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Oppenheimer Maintains Perform on Camelot Information Systems


Oppenheimer is out with its report today on Camelot Information Systems (NYSE: CIS), maintaining Perform.

In its report, Oppenheimer writes, "CIS delivered disappointing 2Q11 results and reduced revenue/EPS guidance by 4%/25%, respectively. Management outlined various reasons for the reduced guidance including contract/booking delays, capacity constraints related to employee turnover and internal investments. While early, management believes a majority of these items are temporary and expects margins to normalize in 2012. CIS continues to diversify its business mix as its top five customers accounted for 48.5% of revenue (vs. 53% in 2Q:10). Shares trade at 8.7x and 7.2x our reduced FY11 and FY12 EPS estimates; maintain Perform rating."

At the time of posting, shares of CIS were trading at $6.35, up 0.47% from Thursday's close.

Posted-In: OppenheimerAnalyst Color Analyst Ratings


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