Powell Industries Inc. (POWL) announced after the close Thursday that it now expects fiscal 2014 earnings from continuing operations to be $1.25 to $1.45 per share, compared to its previous guidance of $2.15 to $2.40 per share. The company also lowered its fiscal 2014 revenues guidance to a range of $630 to $640 million from its previous guidance of $650 to $675 million. Analysts are expecting EPS of $2.17, on revenue of $663.53 million.
Powell Industries gapped open sharply lower Friday morning and is now down 4.56 at $45.16 on above average volume. The stock has dropped below a month and a half long range and has set a new low for the year.
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