The Springfield, Mass., gunmaker cut its year-over-year revenue growth prediction by at least 20 percentage points to between 36% and 40%, meaning total sales of $69 million to $71 million. Analysts polled by Thomson Financial are looking for $82.4 million. Income should range between 5 cents and 7 cents a share, at least a nickel below the mean. Shares were falling $7.92 to $12.17.
Laser-eye surgery outfit LCA-Vision (LCAV) tumbled 32.7% after predicting that fourth-quarter income will be "significantly below" last year's 27 cents a share, which effectively pushes full-year guidance well below the prior forecast of $1.90 to $2 a share. Cincinnati-based LCA cited an "uncertain business environment."
Third-quarter earnings were in line, but shares traded down $9.19 to $18.92, which helped give a black eye to both the Russell 2000 -- which also tracks Smith & Wesson -- and the S&P SmallCap 600. The sector trackers were off 0.3% and 0.2%, respectively.Wellman (WLM) stock booked spectacular losses in heavy trading after the maker of resins and polyester staple fibers said it hired Lazard Freres, "an investment bank with extensive experience in chemical M&A transactions," in order to explore strategic alternatives.