Western Union narrows full-year profit guidance

ENGLEWOOD, Colo. - The Western Union Co. on Tuesday tightened its forecast for 2008 profit, citing slower growth rates in certain countries and a stronger dollar.

The company now expects profit between $1.23 and $1.25 per share, compared with its prior forecast of $1.22 to $1.26 per share.

Excluding restructuring expenses, Western Union now expects adjusted profit of $1.29 per share and $1.31 per share, down from its prior forecast of $1.29 to $1.33 per share.

Analysts surveyed by Thomson Reuters, on average, expect profit of $1.32 per share for the year, with estimates from 23 analysts ranging from $1.28 to $1.35.

Western Union shares slid $3.63, or 17.8 percent, to $16.75.

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