(NLS) - Get Report

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.

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"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.