DHB Industries Net Rises

The company boosts its second-quarter revenue forecast.
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DHB Industries

(DHB)

said first-quarter earnings rose a better-than-expected 27% from a year ago, and the body armor company took up its second-quarter revenue forecast.

Westbury, N.Y.-based DHB earned $6.36 million, or 14 cents a share, in the latest quarter, compared with earnings of $5.02 million, or 12 cents a share, last year. Sales jumped 61% to $74.4 million. The company's order backlog was $215 million at March 31.

Two analysts surveyed by Thomson First Call were expecting earnings of 12 cents a share on sales of $73.9 million in the first quarter. The company said it expects second-quarter revenue of at least $80 million. The consensus was for sales of $72.3 million. For all of 2004, the company now expects revenue of $275 million, short of the two-estimate mean of $298 million.

Gross margins for the first quarter of 2004 were 27.9% versus 28.1% in the first quarter of 2003. Selling, general and administrative expenses were 13.3% of net sales in the quarter versus 12.6% of net sales last year.

The shares rose 57 cents, or 5.7%, to $10.50 in after-hours trading Thursday.