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Mine Safety Earnings Slip
Mine Safety Appliances (MSA Quote) first-quarter earnings fell from a year ago, prompting a 6% selloff Wednesday.
The Pittsburgh-based company earned $15.7 million, or 42 cents a share, compared with $21.4 million, or 57 cents a share, a year ago. The earnings include a restructuring charge of $3.7 million associated with the project outlook in North America and stock options expense of $1.1 million. Analysts surveyed by Thomson First Call were expecting earnings of 55 cents a share in the most recent quarter.
Total revenue increased 0.3% to $228.6 million as against analysts' expectation of $237.7 million. ...
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