, a designer and manufacturer of laboratory products, warned Wednesday after the close that its full-year results will be at the low end of previous estimates.
The company said it expects to earn about $1.30 a share for the year, in line with the low end of previous guidance of $1.30 to $1.40. The consensus estimate of analysts polled by Thomson Financial/First Call is $1.33 a share.
Apogent added that its revenue will be 10% higher than last year's $984.47 million, also at the low end of previous guidance of 10% to 15% growth.
In a press release, the company said that its core business of manufacturing and selling consumable and reusable products for research, which accounts for about 80% of revenue, "continues to meet, and in some cases exceed our expectations."
The remaining business of general laboratory equipment and life sciences applications has been less successful, however, with declining sales. Apogent said it was working on its business plan for next year and would discuss its initial thoughts on the company's third-quarter conference call.
Shares of Apogent closed at $23.30 Wednesday before the news.