The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: russwinter who wrote (19749)	10/11/2004 8:41:20 AM
From: ild	Read Replies (1) of 110194

06:16 ET Lone Star Tech guides below consensus (LSS) 38.20: Late Friday company issued downside guidance for Q3 (Sep), sees EPS of $0.85-0.95 vs. Reuters Estimates consensus of $1.36. The company noted that average steel costs were up approximately 20% from the second quarter of 2004, which amplified the negative impact on earnings from Lone Star's use of the LIFO (Last In First Out) method of accounting for inventories, which results in earnings being impacted by the most recent (in this case, the highest) cost of steel.

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