Mobile Mini Fell 38% Last Week - TheStreet

Mobile Mini

(MINI) - Get Report

lost about 38% of its value and hit a 52-week low last week after issuing a disappointing earnings forecast. The Tempe, Ariz., portable storage and office company said it expects to earn $1.47 a share before charges in 2002, well short of analysts' $1.64 a share prediction. Mobile Mini blamed the economic weakness and lower commercial construction activities for the lowered outlook. The company derives a third of its business from the construction industry. Mobile Mini's business had held up through 2001 and the company said it still expects to return to an earnings-per-share growth rate of 20% or higher in 2003.