The company now expects adjusted earnings of $1.05 to $1.07 per share, compared with its prior expectations of $1.17 to $1.21.
Net sales are expected to fall 2 percent to $413 million from a year ago.
Analysts were expecting earning of $1.15 per share, excluding items, on revenue of $415.4 million according to Reuters Estimates.
Shares of company went down 44 cents to $9 in trading after the bell Thursday. (Reporting by Poojya Trivedi in Bangalore; Editing by Anil D'Silva)