HollySys Automation Technologies, Ltd. (HOLI) posted third-quarter net income attributable to the company of $11.18 million or $0.20 per share versus $11.52 million or $0.21 per share in the same quarter last year. Non-GAAP net income attributable to Hollysys for the current quarter was $11.70 million or $0.21 per share.
Total net revenues decreased 8.7 percent year-over-year to $60.35 million from $66.13 million.
Going ahead, the company slashed its guidance for fiscal year 2013, with revenue now expected in a range of $335 million to $355 million, and non-GAAP net income currently expected to range between $57 million and $60 million.
The company had earlier expected non-GAAP net income of $63 million to $67 million, on revenues in a range of $385 million to $410 million.
Analysts polled by Thomson Reuters expect the company to earn $1.08 per share on revenues of $386.69 million for the year. Analysts' estimates typically exclude special items.
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