MSA Safety shares dip in wake of sales falling short of estimates

Share with others:


Print Email Read Later

Shares of MSA Safety fell in early trading today after the Cranberry safety products company’s second-quarter earnings and sales fell short of Wall Street estimates.

Net income fell 6 percent to $22.8 million, or 59 cents per share, while sales dropped 1 percent to $282.5 million. Excluding foreign exchange gains and $857,000 in pretax restructuring charges, MSA reported adjusted net income of 60 cents per share.

Analysts surveyed by Bloomberg had forecast adjusted income of 62 cents per share and sales of $294 million.

The company reported the results after the market closed Wednesday.

It said continuing government delays in approving its new line of respirators for the fire service market contributed to the drop in sales. Lower sales of flame- and gas-detection equipment reflect several large orders filled in the same quarter a year ago, the company said.

Shortly before 10 a.m., MSA shares were trading at $57.65, off 22 cents. They are up 13 percent this year.


Len Boselovic: 412-263-1941 or lboselovbic@post-gazette.com First Published July 24, 2014 12:00 AM

Join the conversation:

Commenting policy | How to report abuse
To report inappropriate comments, abuse and/or repeat offenders, please send an email to socialmedia@post-gazette.com and include a link to the article and a copy of the comment. Your report will be reviewed in a timely manner. Thank you.
Commenting policy | How to report abuse

Advertisement
Advertisement
Advertisement

You have 2 remaining free articles this month

Try unlimited digital access

If you are an existing subscriber,
link your account for free access. Start here

You’ve reached the limit of free articles this month.

To continue unlimited reading

If you are an existing subscriber,
link your account for free access. Start here