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Firm Pulls Earnings Guidance

Around the State – North JerseyLast week Henry Bros. Electronics (AMEX: HBE) announced that unexpected audit expenses, project cost overruns and other issues have driven the company to withdraw its previously issued earnings guidance for 2007.

The Fair Lawn-based company, which provides electronic security systems and services, originally projected $50 million in revenue and a 4 percent operating margin—generally equal to revenues minus cost of goods sold, and sales, general and administrative expenses—for 2007.

The company also faces delisting from the AMEX stock exchange because of a delay in filing its Form 10-K, or annual report, citing “unexplained reconciling items in certain clearing accounts,” a term that typically refers to accounting errors.

Henry Bros. CEO James Henry said last week that his company intends to regain compliance with AMEX listing standards.

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