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Non-Tech : EARNINGS REPORTING - surprises, misses & more -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (500)	1/21/2001 11:52:18 PM
From: 2MAR$	Read Replies (1) \| Respond to of 762

ANDW ( $20 1/2 sell) shares fall 20 pct on earnings warning CHICAGO, Jan 19 (Reuters) - Shares of Andrew Corp. (NasdaqNM:ANDW - news) fell 20 percent on Friday, despite an in-line fiscal first-quarter earnings report, after the telecommunications equipment firm cut its forecast for its second quarter. Andrew's stock fell as low as $19-15/16 on Nasdaq before settling a bit at $20-7/8 in morning trade, off $5-1/8 from Thursday's close. Before the announcement, Andrew's shares had been outperforming the Standard & Poor 500 Index by 24 percent over the past year. The company late Thursday reported fiscal first-quarter earnings that met analysts' consensus estimate, according to First Call/Thomson Financial. Andrew also reported a 20 percent increase in quarterly revenues. However, in a conference call with analysts, Andrew cut its guidance for its second-quarter earnings to 21 cents a share, flat with last year's results, citing slowing business conditions in the second-half of December. ``We had lowered our expectations for the second quarter in view of the economic conditions and slowness in orders that we've experienced in the last month or so,'' John Byrne, spokesman for Andrew, said. Lawrence Harris, analyst with Josephthal & Co., said in a research note that prices for the company's products also began to erode in late December. ``Product mix has turned negative ... Unfavorable weather conditions in the Midwest have affected construction schedules. These unfavorable trends have apparently continued in the first half of January,'' he added. Harris downgraded his rating on Andrew to hold from buy. Merrill Lynch analyst Michael Ching also cut his intermediate-term rating to neutral from