Ahmed2000
08-01-2004, Thu 5:23 PM
15.11
:D :D :D
Andrew Corp. Raises 1st-Quarter Outlook
Thursday January 8, 8:22 am ET
ORLAND PARK, Ill. (Dow Jones)--Andrew Corp. (NasdaqNM:ANDW - News) , a maker of communications equipment, said Wednesday its fiscal first quarter earnings will exceed a prior forecast due to a continuation of "improving industry trends."
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Andrew raised its revenue estimate to a range of $400 million to $410 million from a prior forecast of $320 million to $350 million.
Earnings before non-cash intangible amortization and restructuring costs will be 6 cents to 8 cents a diluted share.
Previously, Andrew forecast earnings before non-cash intangible amortization and restructuring costs of 1 cent to 4 cents a diluted share.
According to Thomson First Call (News - Websites) , analysts expected Andrew to earn 4 cents a share during the first quarter.
Last year, the company posted net income of $6.1 million, or 6 cents a share, on revenue of $254.5 million.
Andrew plans to webcast a presentation it will make at the Needham Growth Conference at 3:00 p.m. EST Wednesday.
Andrew shares closed Tuesday at $13.20, up 37 cents, or 2.9%.
By Christina Cheddar Berk, Dow Jones Newswires; 201-938-5166; christina.cheddar@dowjones.com
:D :D :D
Andrew Corp. Raises 1st-Quarter Outlook
Thursday January 8, 8:22 am ET
ORLAND PARK, Ill. (Dow Jones)--Andrew Corp. (NasdaqNM:ANDW - News) , a maker of communications equipment, said Wednesday its fiscal first quarter earnings will exceed a prior forecast due to a continuation of "improving industry trends."
ADVERTISEMENT
Andrew raised its revenue estimate to a range of $400 million to $410 million from a prior forecast of $320 million to $350 million.
Earnings before non-cash intangible amortization and restructuring costs will be 6 cents to 8 cents a diluted share.
Previously, Andrew forecast earnings before non-cash intangible amortization and restructuring costs of 1 cent to 4 cents a diluted share.
According to Thomson First Call (News - Websites) , analysts expected Andrew to earn 4 cents a share during the first quarter.
Last year, the company posted net income of $6.1 million, or 6 cents a share, on revenue of $254.5 million.
Andrew plans to webcast a presentation it will make at the Needham Growth Conference at 3:00 p.m. EST Wednesday.
Andrew shares closed Tuesday at $13.20, up 37 cents, or 2.9%.
By Christina Cheddar Berk, Dow Jones Newswires; 201-938-5166; christina.cheddar@dowjones.com