Embrex warned Wednesday that its earnings would be lower when they are announced later this month. And its stock took a big hit as a result.
Embrex (Nasdaq: EMBX) shares fell 24 percent, or $2.17 a share to $7, following the announcement. Embrex will announce its sales and earnings formally on Feb. 25.
The company, which provides in-egg vaccinations, said a global slowdown in poultry demand and other problems would reduce revenue to around $45 million and estimated earnings per share to between 80 cents and 83 cents per share, or around 10 cents lower than one year ago.
Embrex: www.embrex.com
