Wärtsilä Corporation (OMX: WRTBV) revised its 2011 sales prospects down to a cecline by 0-5% compared to 2010. Previously Wärtsilä had estimated that net sales would grow 3-5%. Wärtsilä estimates EBIT margin to be at around 11% as previously communicated, so profit for the year will be down as well.
The reason given is weaker than expected development in marine services markets and the timing of power plant deliveries. Wärtsilä said that its order intake for second quarter was solid 1.17 billion Euros. Wärtsilä's second quarter results are due on Wednesday 20th of July. Wärtsilä's stock is down nearly 10% under 10 minutes after the warning.
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