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Telvent Sees Higher 3Q Profit, Cuts '09 Outlook

NEW YORK (AP) ¿ Spanish information-technology company Telvent Git SA said Tuesday it expects to report a stronger third-quarter profit than a year ago but cut its full-year earnings and sales outlook.

For the period ended Sept. 30, The company projects adjusted earnings of 0.29 euros (43 cents) to 0.32 euros per share on adjusted sales of 190 million euros ($282.5 million) to 194 million euros.

That's up from earnings of 0.21 euros on sales of 160 million euros a year earlier.

It expects new orders of about 310 million euros ($461 million), more than double the 148.5 million euros of a year ago.

But the company cut its full-year outlook to earnings of 1.52 euros to 1.55 euros, down from a previous forecast of 1.54 euros to 1.58 euros. It cut sales to between 812 million euros and 826 million euros, down from 826 million euros to 850 million euros.

Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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