Gerber Scientific cuts fiscal 2009 outlook

Gerber Scientific Inc., which makes equipment used for signs, specialty graphics, apparel and optical lenses, cut its 2009 outlook Thursday on expected order delays and weak demand.

The company now expects profit between 20 cents and 30 cents per share, down from a prior range of 50 cents to 65 cents per share. Revenue is now expected to range from $550 million to $570 million instead of $600 million to $620 million.

"With the lack of visibility and the reduced availability of credit our customers are experiencing, they are, like most businesses, delaying orders and limiting capital expenditures, as evidenced by our weak order backlog going into the fourth quarter," said President and Chief Executive Marc Giles, in a statement.

Shares of Gerber plunged 64 cents, or 24.2 percent, to $2.01 in afternoon trading. The stock has traded between $1.79 and $12.64 over the last 52 weeks.