UPDATE 1-LMI Aerospace Q2 results beat Street, ups '08 rev view
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Aug 6 (Reuters) - LMI Aerospace Inc (LMIA.O), which provides parts to the aerospace and defense industries, posted better-than-expected quarterly results, boosted by an acquisition and strength in its aerostructures segment, and the company raised its 2008 revenue outlook.
For the second quarter, the company, which acquired D3 Technologies Inc last year, posted net income of $5 million, or 45 cents a share, compared with $2.9 million, or 26 cents a share, in the year-ago period.
Analysts on average were expecting earnings of 39 cents a share, before special items, according to Reuters Estimates.
Revenue rose 91 percent to $64.9 million, topping analysts' average forecast of $61.4 million. Sales at its aerostructures segment jumped 23 percent to $41.6 million. Net sales for its engineering services segment, comprised entirely of the operations of D3 Technologies, stood at $24.0 million.
Looking ahead, the company said it expects revenue of $249 million to $265 million for the full year, reflecting an improved outlook for its engineering services segment.
It had previously forecast revenue of $241 million to $259 million.
Analysts were looking for revenue of $251.7 million for the year. Shares of the company rose 8 percent to $22.49 in trading after the bell. They closed up $1.05 at $20.82 Wednesday on Nasdaq. (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Deepak Kannan)
