Palm Beach, FL 7/19/12 (StreetBeat) – Pool Corp (Nasdaq: POOL) shares are trading down 11% after posting lower- than-expected quarterly results. The swimming pool distributor cites pricing pressures and unfavorable changes in customer mix for this decline. The company cut its upper end fiscal 2012 earnings forecast from $1.85 to $1.82 per share.
Net Income Q2 rose to $64.9 million ($1.34 per share) from $58.6 million ($1.19 per share) a year earlier. Revenue rose 7% to $757.2 million. According to Thomson Reuters, analysts were expecting earnings of $1.35 per share on $770.1 million.
Pool Corp’s stock touched a low of $36 in early trading, currently trading at down $3.35 at $37.17.
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