Courtesy of Benzinga.
LMI Aerospace Inc (NASDAQ: LMIA) posted weaker-than-expected fourth-quarter results.
LMI Aerospace lowered its 2012 sales target to between $282 million and $298 million, versus its earlier forecast of $290 million to $308 million.
LMI Aerospace’s quarterly net income surged to $4.1 million, or $0.35 per share, from $3.1 million, or $0.26 per share, in the year-ago period. Its revenue climbed 19% to $65 million. However, analysts were expecting earnings of $0.41 per share on revenue of $67.5 million.
LMI Aerospace shares closed at $19.70 yesterday.
(c) 2011 Benzinga.com. All rights reserved. This material may not be published in its entirety or redistributed without the approval of Benzinga.
For more Benzinga, visit Benzinga Professional Service, Value Investor, and Stocks Under $5.
