American Reprographics (ARP) Lowers FY08 Sales, EPS Guidance
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American Reprographics Company (NYSE: ARP) lowers FY08 sales guidance from $720-$760 million to $700-$710 million, versus the consensus of $723.33 million. EPS guidance for the year lowered from $1.52-$1.60 to $1.36-$1.40, versus the Street estimate of $1.53.
The Company noted that the current upheaval in financial markets will further aggravate lending restrictions and force more construction project delays and cancellations, which will impact the Company's revenues in the short term. Credit availability for private projects is a key driver of the non-residential construction market.
American Reprographics Company provides business-to-business document management services to the architectural, engineering, and construction industries.
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