* Sees FY10 net income down 45 pct to 50 pct
* Sees FY10 rev down 10 pct to 15 pct
* Q2 EPS $0.12 vs est $0.31
* Q2 rev $36.8 mln vs est $40.7 mln
* Shares down 30 pct
July 16 (Reuters) -Energy equipment maker Jinpan
International Ltd JST.O posted lower-than-expected
preliminary quarterly results, hurt by a delayed international
orders, and cut its annual outlook, sending its shares down 30
The company sees 2010 net income to fall 45 percent to 50
percent, and revenue to fall 10 percent to 15 percent.
In March, the company forecast 2 percent to 5 percent
growth in annual income and 10 percent to 15 percent growth in
Analysts on average expect 2010 net income of $1.74 a share
on revenue of $176.64 million, according to Thomson Reuters
"We continue to face a competitive price environment in
China due to depressed prices of silicon steel, a significant
component in cast resin transformers," Chief Executive Zhiyuan
Li said in a statement.
For the second quarter ended June 30, 2010, the company
posted a net income of $2 million, or 12 cents a share,
compared with $8.69 million, or 54 cents a share, a year ago.
Revenue fell 10 percent to $36.8 million from last year.
Analysts on average expected the company to post a profit
of 31 cents a share on revenue of $40.7 million.
Shares of the company, which plans to post the final
results in early August, were down 24 percent at $10.86 Friday
morning on Nasdaq. They touched a year-low of $10.08 earlier in
(Reporting by Vinay Sarawagi in Bangalore; Editing by Don