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BLOOMFIELD HILLS, Mich. - Diversified manufacturer TriMas Corp. reduced its profit estimates for 2008 Monday, saying the economic slowdown is hurting all of its businesses, particular the RV and trailer products and recreational accessories units.
| TRS | 1.51 |  0.03 |
TriMas said it expects a profit of 71 cents to 75 cents per share from continuing operations, down from its previous forecast of 85 cents to 95 cents per share. The company said it is reducing plant hours and cutting costs at the RV and recreational activities businesses, and noted that growth has slowed at its packaging systems, energy and industrial specialties divisions.
Volatile commodity costs are also reducing profit, TriMas said.
On average, analysts expect a profit of 87 cents per share, according to Thomson Reuters.
TriMas also reported its third-quarter results Monday, and the stock fell 71 cents, or 24 percent, to $2.29.
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