Boart Longyear Cuts 2012 Earnings Forecast

Boart Longyear Ltd

lowered its earnings forecast for 2012. It now expects 2012 earnings before interest, tax, depreciation and amortization (EBITDA) of US$310 million to US$320 million. In August, the company had lowered its EBITDA forecast to US$360 million to US$390 million, versus its prior forecast of US$460 million. Boart Longyear shares dropped 4.46% to close at $1.3280 on Friday.