Iwerks Says Revenue to Fall Short

Iwerks Entertainment Inc. said fiscal second-quarter earnings will fall short of analysts’ estimates because of poor Asian sales, sending its shares down 24%. Shares of the Burbank-based maker of specialty commercial theaters and ride simulators fell 75 cents to close at $2.31 on Nasdaq. Iwerks expects a loss, before charges related to an acquisition, of $2.7 million to $3.4 million for the quarter ending Dec. 31, compared with a near break-even quarter last year. Revenue is expected to fall to $6 million from $10 million last year. The company said revenue from Asia is expected to decline by $3.5 million to $4 million from the year-ago period.