Lower Earnings Forecast
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Ambassadors International Inc. said its earnings and revenues for the third quarter will be lower than expected. The Newport Beach company, which operates international educational travel programs, did not provide more financial details, but attributed the disappointing results to lower than expected attendance at an international conference in India, as well as the delay of a corporate travel incentive program.
The company disclosed the projections after the market closed Tuesday. The stock was off 18%, or $3.06 a share, to $14.
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