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Dresser-Rand says strike will hurt 3rd-qtr results

Wed Oct 3, 2007 7:32pm EDT
 
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NEW YORK, Oct 3 (Reuters) - Energy equipment maker Dresser-Rand Group (DRC.N: Quote, Profile, Research, Stock Buzz) said on Wednesday its third-quarter results will be hurt by a strike in its Painted Post facility, along with a slower-than-anticipated recovery in aftermarket sales.

Operating income for the third quarter is expected to be between $32 million and $36 million, the company said in a statement.

The impact of the strike on third-quarter operating income is expected to be slightly greater than the high end of the range of $18 million that the Houston-based company had previously provided.

The slower recovery in aftermarket sales in the third quarter is related to the relatively flat aftermarket bookings over the previous two quarters, the company said. (Reporting by Euan Rocha)

 

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