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Stocks B / Barringer Technologies
|Subject: 4Q shortfall||Date: 2/1/2000 9:35 AM|
|Author: bboyden||Number: 483 of 483|
WARREN, N.J., Jan 31 (Reuters) - Barringer Technologies Inc. (BARR.O), a maker of trace drug and explosive detection equipment, said Monday it expects fourth quarter earnings from continuing operations of between break-even and $200,000 or $0.03 per diluted share.
Analysts were on average forecasting $0.11 cents per share for the quarter, according to First Call/Thomson Financial estimates.
In the fourth quarter of 1998, the company earned, on an operating basis, $0.11 cents per share.
The company said it expects revenues of about $4.2 million, compared to $5.8 million garnered in the 1998 fourth quarter.
The fourth quarter shortfall is primarily due to delays in the manufacturing start up of a new product line as well as a write-off of $200,000 of costs incurred in connection with a proposed acquisition that was not completed, the company said.
certainly doesn't bode well for a pop due to earnings release on the 28th...
The fourth quarter shortfall is primarily attributable to delays in the manufacturing start-up of the new Sabre 2000 product line, as well as a write-off of $200,000, net of tax ($0.03 per diluted share) of costs incurred in connection with a proposed acquisition that was not completed. Mr. Stanley Binder, Chairman and Chief Executive Officer of Barringer Technologies stated, "While we are pleased with the volume of orders received for both the new SABRE 2000 handheld trace detector and our IONSCAN product line during the fourth quarter, delays in the manufacturing start-up for our Sabre 2000 had a significant negative impact on our revenues and operating results for the quarter. Although we are disappointed in our expected results for the quarter, we did finish the year with a backlog of Sabre 2000 orders of approximately $1.0 million. Manufacturing of the Sabre 2000 is now in full swing and we expect to complete delivery of the majority of these orders in the first quarter.
I have to believe him.
and after following Apple Computer down to the $60's from the $90's due to a similar problem, and then back up into the low $100's, I have to remain STRONGLY BEHIND Barringer.
Long on BARR!
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