High-end penmaker A.T. Cross (ATX -17.2%) tumbles after announcing it expects 2011 EPS of...

|By:, SA News Editor

High-end penmaker A.T. Cross (ATX -17.2%) tumbles after announcing it expects 2011 EPS of $0.62-$0.65 and 2012 EPS of $0.70-$0.75, below consensus estimates of $0.66 and $0.84, respectively. The company blames the 2011 shortfall on a 6% Y/Y revenue decline in its Accessory division in Q4, thanks to weak European sales.