Furniture Brands 3Q results miss Wall Street estimates |
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Wed, 31 Oct 2007 23:35
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SAN FRANCISCO (Thomson Financial) - Furniture Brands International Inc. late Wednesday reported third-quarter adjusted earnings of $807,000, or 2 cents a share, missing the mean estimate of analysts polled by Thomson Financial for a profit of 6 cents.During the year earlier, adjusted earnings were $9.68 million, or 20 cents a share.The St. Louis-based company posted a third-quarter net loss of $13.7 million, or 28 cents a share, compared with a net profit of $5.8 million, or 12 cents a share, last year.Revenue came in at $516.3 million, below the consensus estimate of $555.2 million. Last year, revenue was $568.9 million.Additionally, Furniture Brands said it expects to post a charge of 18 cents to 22 cents a share in the fourth quarter related to its anticipated retail store closings.The company also said it now plans to provide earnings guidance on an annual basis.The stock closed out the regular session up 21 cents, or almost 2%, at $12.05.Katherine Huntkh/gmCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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