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Gehl maintains full-year prediction inline with forecasts

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April 25, 2008

WEST BEND, Wis.—Gehl Co., which makes construction and agricultural equipment, on Friday reaffirmed its adjusted earnings prediction in line with Wall Street's expectations.

The company expects earnings from continuing operations, which exclude some one-time items, of $405 million to $425 million, or 95 cents per share to $1.20 per share.

Analysts polled by Thomson Financial, on average, expect a profit of $1.10 per share. Analysts typically exclude one-time items.

Gehl also said Friday it swung to a first-quarter loss, hurt by the continued slowdown in the North American housing market and a hefty one-time charge. But the company said that despite ongoing weakness, it should be able to meet its 2008 forecast due to its current backlog, new product acceptance rate and market share gains.

Shares fell 60 cents, or 3.2 percent, to $17.90 in premarket trading after closing Thursday at $18.50.

© Copyright 2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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