Wednesday, December 06, 2006

Directed Electronics Cuts Profit Outlook

Directed Electronics Cuts Profit Outlook
Wednesday December 6, 7:57 am ET, AP
Directed Electronics Trims Its Profit Guidance on Sluggish Sales of Satellite Radio Receivers

Directed Electronics Inc., which makes security and entertainment systems for automobiles, on Wednesday lowered its earnings guidance for 2006 because of lower than anticipated sales of satellite radio receivers.
The company said it now expects pro forma earnings in the range of $1.04 per share to $1.08 per share, compared to its previous guidance of $1.09 per share to $1.13 per share. Directed Electronics, which supplies satellite radios to retailers for Sirius Satellite Radio Inc., now anticipates revenue in the range of $430 million to $440 million, compared to its previous guidance of $440 million to $460 million.
Analysts polled by Thomson Financial presently had expected a profit of $1.11 per share on revenue of $443.6 million...read more: here