faces a hammering Tuesday after forecasting a revenue and earnings shortfall.
The exercise-equipment giant said Monday it expects to earn 39 cents to 42 cents a share in the first quarter on sales of $124 million to $129 million. For the year, it expects to earn $1.60 to $1.70 a share on sales of $525 million to $545 million. All of the estimates are well below the analyst consensus.
"Even though we are optimistic about the future, we believe it is prudent to be cautious with our guidance for the year, as a challenging business environment and macro forces beyond our control may continue to have adverse effects on our results," the company said.
The shares were down 26% at $11 on Instinet.