SCI Systems Inc. said that while it expects first-quarter revenue to be 1% below expectations, it is on track to meet earnings projections of 45 cents per share.
The shortfall will likely be less than a single digit percentage, and is due to a delay in certain customer shipment releases, the company said. Earnings are not expected to be affected.
SCI's shares were down more than 2 points, to $27.13 mid-morning Thursday.
"We view this announcement as a non-event, since earnings expectations remain viable," said Thomas Hopkins, an analyst with Bear Stearns & Co. Inc., New York, in a statement. "The anticipated weak sequential and year over year results in September will likely represent a bottom to SCI's bad news," he said.