Consolidated Graphics slips on lowered Q1 outlook

Consolidated Graphics Inc. (NYSE:CGX) has dropped 23% today after it lowered its first-quarter outlook after the close on Wednesday. The Houston-based company now expects earnings per share for the quarter ended June 30 to be between $0.80 and $0.84, down from prior forecasts of $1.10 to $1.20. Revenue is expected to be $285 million, off from previous estimates of $300 million and $310 million. The commercial printing services company said the lower outlook was the result of the weak U.S. economy and a more competitive pricing environment.

Today, shares are at $39.56 at 11:09 a.m. ET, down $11.46 from Wednesday’s close. During the past year, shares have ranged from $38.21 to $72.65.

For detailed price information and recent news stories about Consolidated Graphics Inc., click CGX.

---