Circor: 2Q Earnings Snapshot
BURLINGTON, Mass. (AP) _ Circor International Inc. (CIR) on Thursday reported second-quarter profit of $5.9 million.
The Burlington, Massachusetts-based company said it had profit of 30 cents per share. Earnings, adjusted for one-time gains and costs, came to 57 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.
The maker of valves and other engineered products posted revenue of $301.4 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $283 million.
For the current quarter ending in October, Circor expects its per-share earnings to range from 45 cents to 55 cents.
The company said it expects revenue in the range of $290 million to $300 million for the fiscal third quarter.
Circor shares have declined 17 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $40.50, a decline of 28 percent in the last 12 months.