Needham & Company Maintains a 'Hold' on Aeroflex Holding (ARX); Lowerd Expectations

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

Analyst, N. Quinn Bolton, said, "Aeroflex reported F4Q12 results in-line with guidance and our estimates but provided F1Q13 guidance below expectations. Though management believes FY13 will be a better year than FY12 in terms of revenue, margins and earnings, we are taking a conservative approach and model FY13 sales to decline approximately 7% Y/Y. On a positive note, management has reorganized the ATS division, which should position ATS for better sales and profitability. With our estimates coming down again, we maintain our rating. We will be looking for the company to report results that beat our conservative revenue estimates as a catalyst to turn more positive on ARX shares."

FY13 lowered from $0.80 to $0.35.

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 $6.15 yesterday.

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