Cavalier shares fall after earnings warning – layoffs likely

Shares in Cavalier Corp fell 1.8 percent after the carpet-maker warned annual earnings will be at the bottom end of guidance and signalled a $1 million cash hit as it consolidates its tufting operation. The Australian operating environment "remains very subdued" and normalised earnings will be at the bottom end of the $6 million to $10 million forecast for the year ending June 30, ...