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Short Take: Encad issues profit warning

Encad, a wide-format inkjet printer and CAD plotter maker, warned of lower-than-expected revenues and a third-quarter loss. Encad said it expects to report a loss of about $3.9 million on revenue of about $24 million for the quarter ended September 30. The company attributed the anticipated loss to weak sales of its Digital Textile Printing system, lower worldwide sales, and cyan color ink supplier problems. Encad's stock was hit hard after the announcement, as shares lost more than half their value in one day.

Encad, a wide-format inkjet printer and CAD plotter maker, warned of lower-than-expected revenues and a third-quarter loss. Encad said it expects to report a loss of about $3.9 million on revenue of about $24 million for the quarter ended September 30. The company attributed the anticipated loss to weak sales of its Digital Textile Printing system, lower worldwide sales, and cyan color ink supplier problems. Encad's stock was hit hard after the announcement, as shares lost more than half their value in one day.