Technitrol Expects First-Quarter Loss Because of Weak Demand
By Edvard Pettersson
quote.bloomberg.com
Philadelphia, March 12 (Bloomberg) -- Technitrol Inc., which makes electronic components for the telecommunications and other industries, said it expects a first quarter loss because of weaker than expected demand.
Technitrol expects a loss, excluding restructuring and other expenses, of $3.7 million to $4.2 million, or 11 cents to 13 cents a share, it said in a release distributed by Business Wire. In January, it had said it expected first-quarter earnings, excluding certain costs, to be comparable to its fourth-quarter profit of $700,000, or 2 cents a share.
In January and February, revenue at the Philadelphia-based company's Pulse unit was weaker than had been previously expected, Technitrol Chairman and Chief Executive James Papada III said in a statement. Demand was also weak at the company's AMI Doduco unit, he said in the statement. |
