March 9, 2010 / 12:29 PM / 8 years ago

UPDATE 1-LMI Aerospace Q4 profit tops Street; cuts 2010 rev view

* Q4 adj EPS $0.26 vs est $0.25/shr

* Rev rises about 7 pct

* Says some markets may experience reduced demand

March 9 (Reuters) - LMI Aerospace Inc LMIA.O, which makes parts for the aerospace and defense industries, reported better-than-expected quarterly profit on strong sales at its aerostructures segment, but lowered its 2010 revenue outlook.

The company also said some of its markets may experience reduced demand in 2011 and 2012.

For the fourth quarter, net income was $804,000, or 7 cents a share, compared with $585,000, or 5 cents a share, a year ago.

Excluding charges, the company earned 26 cents a share.

Net sales for the company, whose customers include Gulfstream and Spirit AeroSystems (SPR.N), rose about 7 percent to $55.6 million.

    Net sales for the aerostructures segment rose 16 percent to $37.8 million.

    Analysts on average were expecting earnings of 25 cents a share, on revenue of $58.3 million, according to Thomson Reuters I/B/E/S.

    For 2010, the company expects revenue of $245 million to $260 million, down from its prior view of $255 million to $270 million.

    The reduction in revenue expectations is a result of the deferral of about 30 Boeing Co (BA.N) 767 wing modification kits to later years and the cancellation of a portion of a kitting program on the Boeing 747-8, the company said in a statement.

    Shares of the company closed at $13.88 Monday on Nasdaq. (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Bijoy Koyitty)

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