Day Runner Shares Fall to 52-Week Low

Day Runner Inc.’s stock tumbled Friday to a 52-week low, a day after the Irvine-based maker of personal organizers said it expects to lose money in the fourth quarter and might put the company up for sale.

The stock fell 21%, or $2.63 a share, to $10 in trading of 519,400 shares, more than eight times the daily average over the past three months. Earlier in the session, the shares fell to $8.75 before rebounding.

Day Runner said it expects to have a loss of 14 cents to 18 cents a share in the fourth quarter ended June 30. The company was expected to earn 10 cents, the average estimate of four analysts surveyed by First Call Corp. The company also said it hired an investment banking firm to help review strategic possibilities, including a possible sale.