Water Pik Technologies Inc., a maker of personal care products, pool products, and water-heating systems, expects third-quarter earnings to fall between U.S. $0.12-$0.14 a share from the $0.16 a share reported a year ago, due to the timing of shipments from seasonal selling programs for pool products and continued weakness in the U.S. economy.
The company also lowered 2002 earnings expectations to between $0.90-$0.95 a share from its July-issued earnings estimate of $0.95-$1.05 a share.
In a press release, Water Pik said it now expects low single-digit sales growth in 2002, down from its prior guidance of mid single-digit sales growth.
The company said its outlook might be affected by the success of its promotional programs, its largest customers' buying patterns, changes in consumer confidence and spending, as well as the impact of the longshoremen's labor dispute on product availability and shipping costs.
The company plans to release third quarter results Oct. 16, after the market closes. (Dow Jones)
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