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What: Shares of industrial equipment maker Dresser-Rand
So what: The company expects fourth-quarter revenue to be approximately $350 million, $200 million lower than previous expectations. For the full year 2011, the company expects operating income to be between $253 million and $258 million.
Now what: The major shortfall in the fourth quarter was blamed on customer buyouts and deferrals. The shipments will still take place, but have been moved back to 2012. Bookings have also been delayed so the company is certainly feeling some near-term pressure. I'm not buying the dip today and would like to see if more orders are delayed or canceled before jumping in.
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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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