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The stock ended the day at $37.00 down $6.00 from Thursday's close.
The decline came on strong volume and took the stock below support and to its lowest level in a month.
The company reported GAAP net income for the second quarter of $32 million, or $0.54 per share, compared to $105 million, or $1.58 per share, in the prior year quarter.
Excluding special costs, and non-recurring tax items, non-GAAP earnings per share were $0.68, down from $0.98 last year.
Net sales for the quarter were $1.07 billion, a 17% increase from $911 million in the previous year quarter.
Analysts polled by First Call/Thomson Financial expected the company to earn $0.77 per share on revenues of $1.05 billion.
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