Cavalier warns on earnings again, shares fall 5.4%

Thu, 26 Jun 2014

By Pam Graham June 26 (BusinessDesk) – Shares of Cavalier Corp dropped after the carpet maker warned annual earnings will be lower than an already reduced forecast. The carpet maker said normalised profit after tax will be between $5 million and $6 million in the 12 months ending June 30, 2014, down from the guidance of a minimum of $6 million previously advised to the market. The shares dropped 5.4 percent to $1.40. Cavalier forecast annual tax-paid earnings of between $6 million and $9 million when it released it interim report in Fe...

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