ATLANTA (AP) — EMS Technologies, which makes wireless communications technology, lowered the bottom range of its earnings projection for the fiscal year Thursday, blaming the slow economy for delaying orders.
The company now expects earnings per share from continuing operations of $1.35 to $1.65, compared with a previous range of $1.55 to $1.65.
EMS said last month that its estimate excludes 12 cents to 15 cents per share in acquisition-related charges.
Analysts polled by Thomson Reuters, who typically exclude one-time costs, expect $1.49 per share, on average.
Thursday's projection sent EMS shares tumbling $1.45, or nearly 8 percent, to $17.60 in morning trading.