Electromagnetic Sciences Warns of Poor 4Q Results

Eagle Geophysical expects a loss as well, plus other news from after the close.
Author:
Publish date:

Electromagnetic Sciences

(ELMG)

warned that it expects to report "near break-even" fourth-quarter earnings, missing the two-analyst

First Call

profit estimate of 31 cents a share and the year-earlier 27 cents. The company cited order delays.

Separately, Electromagnetic Sciences agreed to buy the satellite products unit of Toronto-listed

Spar

for about $30 million.

In other news (earnings estimates from First Call):

Earnings/revenue reports and previews

Eagle Geophysical

(EGEO)

warned that it expects to report a fourth-quarter loss of 13 cents to 16 cents a share, missing the eight-analyst estimate of a 5-cent profit and down from the year-ago profit of 14 cents. The company cited reduced spending for seismic services among its oil and gas customers.

Vencor

(VC) - Get Report

expects to take an unspecified fourth-quarter charge to write down its investment in privately held

Behavioral Healthcare

. The book value of Vencor's stake in Behavioral is $63 million. The 11-analyst expectation calls for operating earnings of 2 cents a share vs. the year-earlier 7 cents.

Offerings and stock actions

Wilshire Real Estate

(WREI)

set a buyback of up to 1 million shares.

Miscellany

CNet

(CNWK)

will change its symbol to the more intuitive CNET effective Monday.