ESCO Technologies Stocks (NYSE:ESE) Plunges 12% after Earnings

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ESCO Technologies Inc. (NYSE:ESE) fell 12% to $32.82 in the opening sessions after posted a lower quarterly profit, and forecast first-quarter earnings per share to be "generally breakeven," missing analysts' estimates by a wide margin.

Esco expects customer orders and delivery schedules in the first quarter to be hurt by delays caused by stimulus program funding.

Analysts on average were expecting earnings of 38 cents a share for the period, according to Thomson Reuters I/B/E/S.

The company expects 2010 earnings to be lower, and revenues to fall about 3 percent to 5 percent.

Analysts were expecting earnings of $2.14 a share, on revenue of $666.5 million for fiscal 2010.

Esco said gas advanced metering infrastructure (AMI) product deliveries to PG&E Corp (PCG.N) will be lower in 2010 as the contract is entering the latter stages of its deployment. It expects 2010 PG&E gas product sales to be about $40 million, down from $98 million in 2009.