LaBarge, Inc. expects Q2 results to exceed guidance
Jan 12, 2005
LaBarge, Inc. has announced preliminary financial results for the fiscal 2005 second quarter, ended Jan. 2, 2005, indicating it expects net sales and earnings to exceed the Company's previously announced guidance for the quarter. The Company is also raising its financial guidance for the 2005 full fiscal year.
For the fiscal 2005 second quarter, the Company estimates net sales will grow 64 percent to approximately $48.0 million, compared with $29.1 million in the fiscal 2004 second quarter. Net earnings are expected to increase approximately 89 percent to about $0.17 per diluted share, compared with $0.09 per diluted share in the comparable period a year earlier.
In its earlier guidance, the Company had indicated sales and earnings would be slightly higher than the $43.6 million in net sales and $0.15 in net earnings per diluted share reported for the current year's first quarter. The Company attributed the higher preliminary second-quarter results, as compared with its previous guidance, to stronger than expected sales in December 2004.
LaBarge is also raising its guidance for the 2005 full fiscal year, ending July 3, 2005. The Company now expects revenues and earnings to grow by approximately 35 percent over fiscal 2004 levels. For fiscal 2004, LaBarge recorded net sales of $131.5 million and net earnings per diluted share of $0.44. The Company had previously stated it expected revenues and earnings to increase more than 25 percent from the prior year.