Andrew Corp. Raises 1st-Quarter Outlook
Dow Jones, Thursday, January 08, 2004 at 08:22
ORLAND PARK, Ill. (Dow Jones)--Andrew Corp. (ANDW), 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."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, 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
(END) Dow Jones Newswires
01-08-04 0822ET
SOURCE Dow Jones
01/08/2004 |
