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AZZ's 4Q Profit Soars; Sees Lower Revenue in 2010
AZZ Inc.'s (AZZ - Snapshot Report) fourth-quarter earnings soared 36% on the back of higher revenue.
The company reported earnings of 81 cents a share, ahead of the average forecast of 78 cents. Revenue climbed 31% to $100.3 million from $76.6 million.
The electrical equipment and components maker reaffirmed its fiscal 2010 earnings guidance but slashed its revenue forecast, citing a recent slump in orders. It expects revenue between $395 million and $415 million, down by about 6% from its earlier projection of $420 million to $440 million.
Shares of the Zacks #4 Rank ("Sell") company fell almost 6% in afternoon trade.
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| Market Summary | Nov 24, 2009 19:25 pm ET |
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