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HolidayBuyer's Guide
Tech Industry

Cable Design Technologies comfortable with 1Q forecasts

Cable Design Technologies said Thursday that it expects its first-quarter sales to improve 15 percent from the year-ago period and that it's comfortable with analysts' estimates for the quarter.

The network communications equipment provider said it will at least meet the current First Call Corp. consensus estimate of 34 cents a share in the quarter.

Cable Design Technologies (NYSE: CDT) shares were off $1.63, or 8 percent, to $17.31 in late trading.

"The growth is attributed in part to continued spending in gigabit, network and fiber optic telecommunication applications," said CEO Paul Olson in a prepared release.

Sales in fiber optics, one of Cable Design's stronger growth segments, should rise more than 50 percent over last year's first quarter, it said.

Last quarter, Cable Design Technologies hurdled analysts' estimates when it returned a profit of $17.4 million, or 39 cents a share, on sales of $227.1 million.

The stock moved as high as $29.75 in August after falling to a low of $13.31 last November.

Two of the three analysts following the stock maintain either a "buy" or "strong buy" recommendation.