UPDATE: LMI Aerospace Posts Downbeat Q4 Results, Lowers 2012 Sales Forecast

LMI Aerospace Inc LMIA posted weaker-than-expected fourth-quarter results. LMI Aerospace lowered its 2012 sales target to between $282 million and $298 million, versus its earlier forecast of $290 million to $308 million. LMI Aerospace's quarterly net income surged to $4.1 million, or $0.35 per share, from $3.1 million, or $0.26 per share, in the year-ago period. Its revenue climbed 19% to $65 million. However, analysts were expecting earnings of $0.41 per share on revenue of $67.5 million. LMI Aerospace shares closed at $19.70 yesterday.