Lufkin Industries Sees Q3 Revenue of $225-235M vs $230-250M Prior; EPS $0.55-0.60 vs $0.72-0.82 Prior

Lufkin Industries, Inc. (NASDAQ: LUFK) today announced preliminary unaudited financial results for the third quarter of 2011.

Based on preliminary financial data, the company expects to report revenue in the range of $225 million and $235 million for the third quarter of 2011, compared to previous guidance of $230 million to $250 million, and earnings per diluted share of between $0.55 and $0.60, compared to the range of $0.72 to $0.82 that was projected on July 20. Reported net earnings for the third quarter are expected to be additionally impacted by acquisition-related expenses for the purchases of Quinn Oilfield Supply and Pentagon Optimization Services in September.