Tuesday, Armstrong World Industries, Inc. (AWI)reported third-quarter income from continuing operations of $64.4 million or $1.12 per share, compared to $39.1 million or $0.68 per share in the third quarter of 2008.
On average, six analysts polled by Thomson Reuters estimated earnings of $0.45 per share for the quarter. Analysts' estimates typically exclude special items.
Third quarter net sales decreased 19% to $753.0 million from $929.6 million last year. Analysts expected revenue of $732.32 million for the quarter.
Company reaffirmed 2009 sales outlook to be between $2.75 billion and $2.8 billion. Analysts currently expect $2.72 billion. The company expects 2009 adjusted EPS to range between $1.34 to $1.41 per share, compared to $2.37 per share in 2008. Analysts presently estimate earnings of $1.12 per share.
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