Gerber Scientific Plummets 12.8% On Earnings Miss (GRB)

Shares of Gerber Scientific, Inc. GRB are trading down 12.8% at $7.86 per share during the Thursday morning trading session. The day's trading range for shares of Gerber Scientific, Inc has been between $7.65 and $8.23 per share. Analysts covering the company's stock give it a consensus price target of $8.00 per share. Volume of 45,000 shares is still below the daily average volume of 61,000 shares. Gerber Scientific, Inc. (GRB) announced on Thursday morning that it missed consensus Wall Street earnings expectations. Gerber Scientific, Inc announced 2nd quarter adjusted earnings per share of 3 cents. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 7 cents per share. President and chief executive officer Marc Giles said, "We continued our positive performance trend in the second quarter, with currency-neutral revenue up 11%, fueled by a strong rebound in equipment sales, up 27%, and solid revenue gains in software and aftermarket products, up 17% and 4%, respectively. We are particularly pleased by the significant ramp up in market demand within our Apparel and Industrial segment, which posted significantly higher orders across every business line and nearly every geographic market." Read more from Benzinga's Company news.