Franklin Electric (FELE) Cuts Q2 EPS, Revenue Outlook
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Franklin Electric Issues Revised Second Quarter 2015 Earnings Guidance
July 10, 2015 2:30 PM EDTFORT WAYNE, Ind., July 10, 2015 (GLOBE NEWSWIRE) -- Franklin Electric Co., Inc. (NASDAQ: FELE) Franklin Electric has revised its previously issued earnings guidance for the second quarter ended July 4, 2015.
For the second quarter, the Company expects adjusted earnings per share to be approximately $0.35 versus the previously issued guidance on April 28, 2015 of $0.54 to $0.58, as a result of significantly lower sales. Second quarter revenues were approximately $37 million below the second quarter 2014, and guidance, with the vast majority of the decline occurring during May and June.
Gregg Sengstack, Chairman and Chief Executive Officer commented: "Record... More
