Cybex revises 4Q, year earnings downward |
|
|
|
Published
:
Sat, 31 Mar 2007 00:18
|
MEDWAY, Mass. (AP) - Cybex International Inc., a maker of exercise equipment, said Friday it sharply lowered its previously reported fourth-quarter earnings to reflect an expense related to a financial instrument.Cybex said fourth-quarter earnings were adjusted downward to $503,000, or 3 cents per share. In February, the company reported the result at $2.8 million, or 16 cents per share. A year-ago, earnings were $2.4 million, or 16 cents per share.For the year, earnings were revised downward to $20.1 million, or $1.18 per share, from $20.4 million, or $1.19 per share. In 2005, Cybex earned $60,000, or less than 1 cent per share.The changes were caused by an increase of $506,000 before taxes to 2006 interest expenses to reflect the effects of an interest-rate swap agreement.Cybex shares closed Friday up 11 cents to $5.33 on the Nasdaq Stock Market.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
|
|
|
|
Print this Story
Cybex International 4Q profit rises 