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BOOM<going bust ah>Dynamic Materials misses by $0.05, beats on revs; guides Q1 revs below consensus; guides FY10 revs below consensus (19.06 +0.23)

Reports Q4 (Dec) earnings of $0.08 per share, $0.05 worse than the First Call consensus of $0.13; revenues fell 27.3% year/year to $42.6 mln vs the $39.7 mln consensus. Co issues downside guidance for Q1, sees Q1 revs of ~$29.8 mln (down ~30% QoQ) vs. $37.00 mln single est. Co issues downside guidance for FY10, sees FY10 revs flat to down 5% YoY, or revs of $156.7-164.9 mln vs. $171.30 mln consensus. "Our efforts to capture additional market share in the upstream oil and gas industry, coupled with increased pricing pressure should result in full-year gross margins in a range of 22% to 24%. As the global economy gains strength and the competitive landscape returns to more normalized levels, we do believe that DMC's long-term margin performance will benefit. We expect a slow start to the year as we are making final manufacturing adjustments to plates related to our Gorgon order, and this situation has delayed certain shipments. First quarter revenue is expected to be down approximately 30% versus the 2009 fourth quarter, and first quarter gross margin is expected to be in a range of 20% to 22%."