American Electric Technologies (AETI)

[griff100]

American Electric Sees 4Q Loss On 16c/Shr Chg >AETILast update: 12/17/2007 4:29:17 PMDOW JONES NEWSWIRES American Electric Technologies Inc. (AETI) expects to record a fourth-quarter loss, hurt by a charge of $1.26 million, or 16 cents a share, related to cost overruns on three pacts. The Houston-based power delivery product and service supplier said the overruns, which were on three fixed price light commercial contracts in its electrical and instrumentation construction segment, were primarily due to higher labor hours. American Electric expects to record profitable full-year financial results. Shares of American Electric closed down 35 cents, or 7.1%, to $4.55, and didn't trade after hours. -Monica M. Clark; 201-938-5400; [e-mail]