said Friday it expects to beat Wall Street's earnings estimates for the fourth quarter and meet analysts' projections for the first quarter.
The company, a maker of telecom and Internet infrastructure storage and conversion products, said it will exceed the 55-cent consensus estimate for the fourth quarter by 5% to 10%. The company earned 35 cents a share in the year-ago fourth quarter, and 54 cents in the latest third quarter. The company is slated to report fourth-quarter earnings during the week of March 5.
C&D also said it expects to meet consensus estimates of 56 cents for the first quarter. "Our core reserve power business remains robust, reinforcing our positive outlook for the first quarter,'' the company said in a statement. "While we have experienced some order postponements and cancellations from a few customers, including our largest power electronics customer,
, our current order rates and backlog give us confidence that we can achieve analyst earnings estimates for the first quarter of our new fiscal year.''
"In the fourth quarter, which has traditionally been our weakest quarter, sales ran at a rate above the record sales of $155.4 million we reported in this year's fiscal third quarter," the company added.
Shares of C&D fell $7.60, or 15%, to $42.95 in today's
New York Stock Exchange