RSTI lowered 1Q sales guidance (ending December 31, 2008) to $105 - $110 million, down from $120 - $125 million. The CEO blamed a "dramatic slowdown" in the business environment for the change.
Rofin agreed to acquire 80% of Chinese laser manufacturer Nanjing Eastern Laser Company in two seperate transactions.
Rofin announced earnings of 54 cents a share on revenues of $150 million. Analysts had expected earnings of 50 cents on revenues of $138 million.