Stock Market News - (NASDAQ:WGOV) Q4 profit falls, Provides FY10 Guidance
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Dallas, TX 11/19/2009 03:33 PM GMT (TransWorldNews)
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Woodward Governor Company (NASDAQ:WGOV) fell 7% to $23.98 after it posted a lower quarterly profit, hurt by a drop in sales at some of its segments, and said it expects sales in fiscal 2010 to be flat.
The company forecast fiscal 2010 earning to range between $1.40 and $1.60 a share, on sales of $1.4 billion to $1.5 billion.
Analysts on average were expecting earnings of $1.51 a share, on revenue of $1.50 billion, according to Thomson Reuters I/B/E/S.
"We expect Airframe Systems sales to increase due to the mid-year acquisition of HR Textron, but anticipate sequential declines through the first half of the year," the company said in a statement.
There were signs that most of its businesses were bottoming out or will in the near future, Woodward said.
For the fourth quarter, the company posted earnings of $23.8 million, or 34 cents a share, compared with $34.4 million, 50 cents a share, a year earlier.
Sales rose 4 percent to $364.5 million.
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