Tarpon Industries Expects to Report Record Revenue in Second Quarter
27 Giugno 2006 - 2:58PM
Business Wire
Tarpon Industries, Inc. (AMEX:TPO), a manufacturer and distributor
of structural and mechanical steel tubing and engineered steel
storage rack systems, today announced that it expects to report
record revenue in its second quarter ended June 30, 2006. Revenue
in the second quarter is expected to exceed $20 million, well ahead
of the prior record of $17 million that was achieved in the first
quarter of 2006. The Company also expects to report significant
progress in the quarter towards its milestone of achieving
profitability on an operating basis. "We are pleased with the
improved results to date in the second quarter," said James W.
Bradshaw, Chairman and Chief Executive Officer. "All of our
operating divisions contributed to the improvement over first
quarter levels. With our new management team in place, including
the addition of our new chief financial officer as well new
leadership at the plant level, we are optimistic that we can
further grow the business while we focus on improved efficiency and
expense control throughout the organization." Mr. Bradshaw added,
"While the Company put a program in place to reduce expenses in the
first quarter, we have recently expanded our cost cutting
initiatives. We strongly believe that this second round of
reductions will put us on track to drive the business to
profitability." Mr. Bradshaw was appointed to his post as Chief
Executive Officer in April 2006. The Company expects to report
results for its second quarter ended June 30, 2006 in mid-August.
Tarpon Industries, Inc. Tarpon Industries, Inc., through its wholly
owned subsidiaries within the United States and Canada,
manufactures and sells structural and mechanical steel tubing and
engineered steel storage rack systems. Through an aggressive
acquisition-driven business model, the company's mission is to
become a larger and more significant manufacturer and distributor
of structural and mechanical steel tubing, engineered steel storage
rack systems and related products. For more information, please
visit Tarpon's website at http://www.tarponind.com. Forward-Looking
Statements Certain statements made by Tarpon in this presentation
and other periodic oral and written statements, including filings
with the Securities and Exchange Commission, are "forward-looking"
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements, as well as
statements which address operating performance, events or
developments that we believe or expect to occur in the future,
including those that discuss strategies, goals, outlook or other
non-historical matters, or which relate to future sales or earnings
expectations, cost savings, awarded sales, volume growth, earnings
or a general belief in our expectations of future operating
results, are forward-looking statements. The forward-looking
statements are made on the basis of management's assumptions and
estimations. As a result, there can be no guarantee or assurance
that these assumptions and expectations will in fact occur. The
forward-looking statements are subject to risks and uncertainties
that may cause actual results to materially differ from those
contained in the statements. Some, but not all of the risks,
include our ability to obtain future sales, our ability to
successfully integrate acquisitions, changes in worldwide economic
and political conditions, including adverse effects from terrorism
or related hostilities including increased costs, reduced
production or other factors, costs related to legal and
administrative matters, our ability to realize cost savings
expected, inefficiencies related to production that are greater
than anticipated, changes in technology and technological risks,
foreign currency fluctuations, increased fuel costs, increased
steel costs as it relates to our selling price, work stoppages and
strikes at our facilities and those of our customers, the presence
of downturns in customer markets where the company's goods and
services are sold, financial and business downturns of our
customers or vendors, and other factors, uncertainties, challenges,
and risks detailed in Tarpon's public filings with the Securities
and Exchange Commission. Tarpon does not intend or undertake any
obligation to update any forward-looking statements.
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