Nortek (NTK) Reports Q2 Loss Per Share of 14c, Offers Guidance

Nortek (NASDAQ: NTK) reported Q2 EPS of ($0.14), may not compare to the analyst estimate of $0.97. Revenue for the quarter came in at $703.9 million versus the consensus estimate of $715.77 million.

Nortek sees FY2015 revenue of $2.5-2.575 billion, versus the consensus of $2.62 billion.

Given that its first-half operating results are not indicative of its anticipated performance for the full-year, and due to unusual factors that affected its first half, the Company is providing guidance for the full year ending December 31, 2015 as follows:

Net sales are expected to be in the range of $2.5 billion to $2.575 billion.
Adjusted EBITDA is expected to be in the range of $290 million to $300 million.
The above range of adjusted EBITDA includes approximately $18 million to $20 million of adjusted EBITDA losses on businesses that are being restructured and the AVC entity sold.

For earnings history and earnings-related data on Nortek (NTK) click here.

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