were up 3.5% after the company raised its third-quarter earnings forecast. The company also issued new guidance for its full-year results.
Recently, shares were up 82 cents at $24.20 on the
New York Stock Exchange
The company said it expects to earn between 70 cents and 73 cents a share in the third quarter, ahead of its July estimate of 65 cents to 70 cents a share. Analysts were expecting the company to earn 68 cents a share. In the same period last year, the company earned $90.3 million, or 58 cents a share. Sales are expected to rise as much as 4.3%, the company said.
For full-year 2002, the company expects a low-digit increase over last year, earning $2.00 to $2.06 a share, before a change in accounting principles. The company had previously expected to earn between $1.92 and $2.03 a share. Analysts expect the company to earn $1.98 a share.
In 2001, the company earned $263.2 million, or $1.68 a share. The Cleveland-based company will release its results on Oct. 22.