Federal Signal predicts earnings to fall short
Truck component maker Federal Signal Corp. of Oak Brook, IL said that it expects its third quarter earnings to fall short of expectations. The company estimates that its earnings per share for the third quarter will be between 20 to 22 cents, short of the expected 31 to 33 cents per share.
The company had previously estimated its 2001 earnings per share would range from $1.33 to $1.38, but now believes it range from $1.16 to $1.19.
“While we are unsure of how the recent tragic events in the United States will affect our business in 2002, we remain very positive on the year 2002,” said Joseph J. Ross, Federal Signal’s chairman & CEO. That outlook comes mainly from continued demand the company is seeing from municipal fleet markets, he said.