NEWP should and will go back to $10's. Guidance is down. Revenue and earnings are below analysts' expectation. Read the report again.
The company noted that it does not see a near-term catalyst for improvement in overall market conditions. As such, the company expects its sales, non-GAAP operating income and non-GAAP net income in the fourth quarter of 2012 to be similar to the third quarter levels.
Mr. Phillippy concluded, "Due to the uncertainty in market conditions, our outlook remains cautious. As we have done successfully during prior periods of weak market demand, we are continuing to invest in opportunities to drive future growth, while taking actions to enhance our profitability and cash generation. This balanced approach will fortify our business in the near term and position us well for 2013 and beyond.""