March 4, 2010 / 10:18 PM / 7 years ago

UPDATE 1-Dynamic Materials posts lower Q4 profit, shrs down

* Q4 EPS $0.08 vs $0.42 year ago

* Q4 revenue falls 27 pct

* Sees Q1 rev to be about 30 pct lower sequentially

* Sees FY 2010 rev to be flat to down 5 pct from 2009

* Shares down 9 pct after market

March 4 (Reuters) - Industrial equipment maker Dynamic Materials Corp (BOOM.O) posted a 81 percent drop in quarterly profit, hurt by lower sales at its explosive metalworking segment, and said it sees first-quarter revenue to be lower sequentially, sending its shares down 9 percent after market.

"We currently are anticipating that 2010 revenue will be in a range of flat to down 5 percent versus our 2009 top-line performance," Chief Financial Officer Rick Santa said in a statement.

The company sees a slow start to the year as it makes manufacturing adjustments, and expects first-quarter sales to be down about 30 percent sequentially.

Analysts on average were expecting the company to post a revenue of $37 million for the quarter, according to Thomson Reuters I/B/E/S.

For the fourth quarter, the company reported net income of $1 million, or 8 cents a share, compared with $5.4 million, or 42 cents a share, a year ago.

Revenue fell about 27 percent to $42.6 million. Sales from the company's explosive metalworking segment dropped 34 percent to $31.7 million.

Analysts on average were expecting the company to earn 13 cents a share, before special items, on revenue of $39.73 million, according to Thomson Reuters I/B/E/S.

Shares of the company were trading down 9 percent at $17.35 in extended trade. They had company closed at $19.06 Thursday on Nasdaq. (Reporting by Fareha Khan in Bangalore; Editing by Jarshad Kakkrakandy)

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