Reuters: Global Markets: Polypore expects third-quarter profit below market expectations

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Polypore expects third-quarter profit below market expectations Sep 11th 2012, 13:15 Tue Sep 11, 2012 9:15am EDT (Reuters) - Filtration products maker Polypore International Inc (PPO.N) forecast third-quarter earnings below market expectations as customers delayed certain orders to the next quarter. Shares of the company were down 12 percent before the bell on Tuesday. They closed at $35.96 on Monday on the New York Stock Exchange. Polypore said it expects adjusted earnings for the third quarter to be in range of the low- to mid-30-cent per share. Analysts' expected the company to earn 50 cents per share, according to Thomson Reuters I/B/E/S. Polypore said it experienced weakness in July and August, but is seeing improvement in September sales. Sales were also hurt by a temporary shut-down of a plug-in electric drive vehicle production facility, the company said. Investors have recently been concerned about the impact of General Motors Co (GM.N) plans to temporarily halt production of Chevrolet Volt, which uses Polypore's lithium battery separators. Polypore makes filtration and separation products that are used in lithium and lead-acid batteries, and haemodialysis, blood oxygenation and other microfiltration applications. Polypore said it expects earnings for the second half to be similar to or slightly below the first half of 2012. The company forecast adjusted fourth-quarter earnings in the range of low-50-cent to low-60-cent per share, which is largely below analysts' average estimate of 62 cents per share. (Reporting by Megha Mandavia in Bangalore) Link this Share this Digg this Email Reprints

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