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Technology Stocks : HDCO - Why sudden dip? -- Ignore unavailable to you. Want to Upgrade?

To: Douglas V. Fant who wrote (438)	4/13/1998 6:46:00 AM
From: Asymmetric	Read Replies (2) \| Respond to of 572

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%