Kensey Nash Guidance Soft

The stock slides 17%.
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Kensey Nash

(KNSY)

plunged 17% early Monday after the medical implant company guided to a sharply lower-than-expected fiscal first-quarter profit.

The Exton, Pa., endovascular, sports medicine and spine company made $2.7 million, or 21 cents a share, for the fourth quarter ended June 30. That's down from $3.3 million, or 27 cents a share, a year earlier. On a pro forma basis, excluding certain costs, earnings were 26 cents a share, a penny ahead of the Wall Street analyst consensus estimate.

Revenue rose 13% from a year ago to $18.4 million, ahead of the $17.6 million Thomson Financial target.

But the company said it expects to make 14 cents to 15 cents a share for the first quarter on a pro forma basis. That's just half the 30-cent Thomson estimate. Sales should be around $16 million, shy of the $18 million estimate.

Shares fell $4.91 to $24.70 early Monday.