Analysts Shave Earnings Estimates for Hadco
Dow Jones Newswires -- April 7, 1998
Analysts Cut Estimates For Hadco After Preannouncement>HDCO
NEW YORK (Dow Jones)--Analysts slashed earnings estimates for
Hadco Corp. (HDCO) after the company said Tuesday that results
for its fiscal second quarter won't meet expectations.
On average, the eight analysts who report estimates to First Call
Corp. had expected the company to earn 82 cents a share, according
to Chuck Hill, First Call's director of research, but they've retreated
in light of the company's statement that it expects 50 cents.
The analysts also cut their estimates for later periods, Hill said:
They now expect the Salem, N.H., maker of electronic circuit
boards to earn 51 cents in the third fiscal quarter, down from 81
cents; $2.54 for the fiscal year ending in October, down from $3.50;
and $3.61 next fiscal year, down from $4.63.
In addition to announcing the drop in earnings to 50 cents from 91
cents a year ago, the company said it expects to take a charge of up
to $71 million in the second fiscal quarter.
Doug, that's a pretty big haircut they just gave to Hadco:
1998 Earnings revised downward -27.4%
1999 Earnings revised downward -22.0% |
