CIRCOR International Q3 Earnings Down, But Beats Estimates

(RTTNews) - CIRCOR International, Inc. (CIR) Friday reported lower profit for the third quarter, on 5 percent decline in revenues. However, earnings beat analysts' estimates. Net earnings were down at $14.67 million or $0.83 per share from $17.72 million or $1.00 per share a year ago. Excluding certain items, the group earned $0.95 per share. On average, 5 analysts polled by Thomson-Reuters estimated the company's earnings per share to be $0.90 for the quarter. Analysts' estimates typically exclude one-time items. Quarterly revenues declined to $203.8 million from $214.7 million last year, while Wall Street expected it to be $210.23 million. Looking ahead, for the fourth quarter, the company expects adjusted earnings per share, excluding restructuring and special charges, in the range of $1.02 to $1.12, on revenues of $210 million to $225 million. Analysts forecast earnings of $1.07 per share, on revenues of $220.61 million.