UPDATE: LMI Aerospace Reports Downbeat Q3 Results, Lowers 2011 Revenue Forecast

LMI Aerospace Inc LMIA reported downbeat quarterly results and lowered its full-year sales view. LMI Aerospace now expects 2011 sales of $253.3 to $259.3 million, versus its prior view of $258 to $268 million. However, analysts were expecting 2011 sales of $262.4 million. LMI Aerospace reported its Q3 net income at $4.1 million, or $0.35 per share, versus $2.6 million, or $0.23 per share, in the year-ago period. Its revenue surged to $64.8 million. However, analysts were expecting earnings of $0.43 per share on revenue of $66.8 million. LMI Aerospace lifted its 2012 sales view to $290 to $308 million, versus its prior forecast of $283 to $303 million. LMI Aerospace shares fell 0.49% to close at $20.50 yesterday.