Printrak Shares Drop on Earnings News
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ANAHEIM — Printrak International Inc. shares slumped 14.2% Thursday after the maker of automated fingerprint identification systems said its fourth-quarter operating results will be significantly below the company’s expectations.
Printrak shares fell $1.38, to $8.25 a share, as volume on the Nasdaq hit 234,500 shares, nearly 9 times its daily average of 26,800. The stock hit a 52-week low of $8 earlier in the session.
Wall Street analysts were expecting the company to earn 16 cents a share, or about $1.7 million, for the fourth quarter ending March 31.
Printrak said Wednesday it plans to take an unspecified fourth-quarter restructuring charge to integrate its TFP Inc. unit into its Anaheim operations.
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