Globecomm Systems Inc. (GCOM) said Monday that it has hired Needham & Co. to act as its financial advisor to review potential strategic alternatives to boost shareholder value.
The Hauppauge, New York-based global communications solutions provider also updated its financial outlook for the fiscal year ending June 30, 2013. The company said it now forecasts revenues of $320 to $340 million and earnings of $0.66 to $0.71 per share. Previously, the company forecast revenue of $340 to $360 million and earnings of $0.66 and $0.76.
Analysts polled by Thomson Reuters currently expect the company to earn $0.66 per share on revenue of $364.03 million for the fiscal year 2013. Analysts' estimates typically exclude special items.
The Company expects to release its financial results for the fiscal 2013 second quarter and the six months ended December 31, 2012 after the market close on Wednesday, February 6.
Globecomm shares closed Monday's regular trading session at $11.61, down 31 cents or 2.60%. The stock is currently gaining 7.67% in after hours trading.
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