USB Piper Downgrades Action Performance

Analyst Brent Rystrom says the company continues to suffer from internal product availability problems

Action Performance (ATN ) shares fell Monday after the company reported first-quarter earnings per share of 44 cents, vs. 46 cents a year ago, as higher costs and expenses offset a 2% sales rise. The company sees EPS of 44 cents to 56 cents in the second-quarter. And it lowered its EPS outlook for fiscal year 2003 to $2.85 to $3.00.

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