Shares dropped from $130.85 to $111.46 after company officials reported estimating earnings between $0.98 and $1.10 per share in 2014, significantly lower than analysts’ expectations of an average of $1.38, according to a MarketWatch report.
Projected total 2014 sales are also lower than expectations. The company said it estimates between $725 million and $755 million in sales next year, lower than analysts’ prediction of $764 million, according to the report.
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