AIRBORNE LOWERS THIRD QUARTER EXPECTATIONS
Airborne Inc., the holding company for Airborne Express, said it expects third-quarter earnings to be lower than the previous estimates, due largely to the Sept. 11 terrorist attacks.
“We estimate the net financial impact of these events on operating income will be approximately $13 to $15 million in the third quarter,” said Lanny Michael, chief financial officer of Seattle-based Airborne..
The current third quarter consensus estimate of analysts is a net loss of 10 cents per share.