UPDATE: Armstrong World Industries Posts Downbeat Q4 Results
Armstrong World Industries Inc (NYSE: AWI) posted weaker-than-expected fourth-quarter results.
Armstrong World Industries projects 2012 adjusted earnings of $2.75 to $3.15 per share on sales of $2.9 billion to $3 billion. However, analysts were projecting earnings of $2.91 per share on revenue of $3 billion.
Armstrong World Industries posted a quarterly net income of $8.5 million, or $0.14 per share, versus a year-ago net loss of $21 million, or $0.36 per share. Excluding items, Armstrong World Industries earned $0.16 per share, versus analysts' estimates of $0.29 per share.
Its sales climbed 1% to $652.1 million, versus analysts' estimates of $669.8 million.
Armstrong World Industries shares closed at $49.63 on Friday.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.