Cytec Industries (NYSE:CYT) announced net earnings for the third quarter were $37.7 million or $0.75 per diluted share on net sales of $837 million. Ex-items, net earnings were $39.9 million or $0.80 per diluted share. Wall Street was expecting $0.85 and today shares are lower by 14.6%.
Thomas M. Prescott, Align (NASDAQ:ALGN) president and CEO said that case shipments were within their guidance range, though at the lower end. He continued that this softness has persisted into the fall, especially among their North American GP dentists who have reported lower dental visits and reduced demand for premium procedures.
For the fourth quarter of fiscal 2010, Align Technology now expects net revenues to be in a range of $90.5 million to $93.0 million and GAAP earnings per diluted share are expected to be in a range of $0.15 to $0.17.
Shares of Align are lower by 12.75%.
RAIT Financial Trust (NYSE:RAS) reported net income of $15.1 million, or $0.16 total earnings per share. Shares of RAIT are lower by 17.25%.
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