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LoJack backs outlook, says results may hit low end of range



By AP
30 April 2008 @ 02:04 pm EST

WESTWOOD, Mass. - LoJack Corp., which makes vehicle-tracking devices, on Wednesday affirmed its 2008 guidance, but warned that its results may come in at the low end of its estimated range.

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LoJack said it still expects to post 2008 profit of $13 million to $15 million, or 75 cents to 85 cents per share, on $213 million to $218 million in revenue.

Analysts polled by Thomson Financial expect a profit of 75 cents per share on $214 million in revenue.

LoJack added that as a result of ongoing economic woes that have resulted in a drop in U.S. automotive sales this year, its results may come in at the low end of those projections.

LoJack shares rose 58 cents, or 6 percent, to $10.19 in afternoon trading, after peaking at $10.31 earlier in the session

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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