wsj_0135.xml
WSJ891102-0056
WSJ891102-0056
=
891102
=
891102
891102-0056
.
891102-0056
.
Business
Brief
--
Elco
Industries
Inc.
:
@
Fastener
Maker
Expects
Net
@
In
'
90
to
Be
Below
Forecast
Business
Brief
--
Elco
Industries
Inc.
:
@
Fastener
Maker
Expects
Net
@
In
'
90
to
Be
Below
Forecast
11/02/89
11/02/89
11/02/89
WALL
STREET
JOURNAL
(
J
)
WALL
STREET
JOURNAL
(
J
)
ELCN
ELCN
Elco
Industries
Inc.
said
it
expects
net
income
in
the
year
ending
June
30
,
1990
,
to
fall
below
a
recent
analyst
's
estimate
of
$
1.65
a
share
.
The
Rockford
,
Ill.
,
maker
of
fasteners
also
said
it
expects
to
post
sales
in
the
current
fiscal
year
that
are
``
slightly
above
''
fiscal
1989
sales
of
$
155
million
.
The
company
said
its
industrial
unit
continues
to
face
margin
pressures
and
lower
demand
.
In
fiscal
1989
,
Elco
earned
$
7.8
million
,
or
$
1.65
a
share
.
The
company
's
stock
fell
$
1.125
to
$
13.625
in
over-the-counter
trading
yesterday
.