Gardner Denver Inc. (GDI) reported third quarter net income of $19.4 million or $0.37 per share, compared to $34.6 million or $0.65 per share in the prior year period.
On average, nine analysts polled by Thomson Reuters expected the company to report earnings of $0.43 per share. Analysts' estimates typically exclude special items.
Revenues for the period were $428.8 million, compared to $480.3 million in the prior year period. Eight Wall Street analysts expected revenues of $409.33 million.
Looking forward, for the fourth quarter, the company expects earnings per share in the range of $0.61 to $0.65. Excluding profit improvement costs, the fourth quarter earnings per share is expected to be in a range of $0.68 to $0.72.
Street analysts expect earnings of $0.70 per share for the fourth quarter.
For the full-year 2009, net loss per share is now expected to be in the range of $3.29 to $3.25, compared to its earlier forecast in the range of $3.27 - $3.47. Full-year adjusted earnings per share is now expected to be in a range of $2.30 to $2.34, compared to its previous projection in the range of $2.12 to $2.32.
Street analysts expect earnings of $2.14 per share for the full-year.
Further, the company said it plans to complete the closure of manufacturing operations in Gloucester, U.K. in the fourth quarter of 2009 and Sheboygan in the first quarter of 2010.
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