Circor: 3Q Earnings Snapshot
BURLINGTON, Mass. (AP) _ Circor International Inc. (CIR) on Monday reported a third-quarter loss of $6.8 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Burlington, Massachusetts-based company said it had a loss of 34 cents. Earnings, adjusted for costs related to mergers and acquisitions and non-recurring costs, came to 52 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.
The maker of valves and other engineered products posted revenue of $297.5 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $296.4 million.
For the current quarter ending in December, Circor expects its per-share earnings to range from 53 cents to 63 cents.
The company said it expects revenue in the range of $295 million to $315 million for the fiscal fourth quarter.
Circor shares have fallen 32 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $32.99, a fall of 23 percent in the last 12 months.