Needham & Company Maintains a 'Hold' on Aeroflex Holding (ARX); F1Q12 Results and F2Q12 Guidance Fall Short

Needham & Company maintains a 'Hold' on Aeroflex Holding (NYSE: ARX).

Needham analyst says, "Following soft F4Q11 results due to delayed approvals on certain military test programs, Aeroflex reported weaker than expected F1Q12 results and F2Q12 guidance. The culprit this time is lengthened cap ex approval cycles and cap ex freezes by the company’s wireless test customers."

"With weaker than expected F1H12 results, management lowered its FY12 revenue/Adjusted EBITDA/non-GAAP EPS outlook to $730MM-$760MM/$170MM-$180MM/$0.90-$0.98 from previous estimates of $790MM-$830MM/$187MM-
$203MM/$1.09-$1.22."

For an analyst ratings summary and ratings history on Aeroflex Holding click here. For more ratings news on Aeroflex Holding click here.

Shares of Aeroflex Holding closed at $9.43 yesterday.

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