CFC International, Inc. Issues First Quarter 2004 Outlook
17 Marzo 2004 - 11:30AM
PR Newswire (US)
CFC International, Inc. Issues First Quarter 2004 Outlook CHICAGO
HEIGHTS, Ill., March 17 /PRNewswire-FirstCall/ -- Worldwide
holographic and specialty coated film manufacturer, CFC
International, Inc. said today that sales for the first quarter are
expected to be 20 to 22 percent higher than the same period in
2003. The Company's estimate reflects strong demand for its printed
products and holographic products, as well as favorable European
currency exchange rates on European sales. Earnings for the quarter
are expected to be in the range of $.08 to $.10 per share on a
fully diluted basis. The Company also preliminarily anticipates
earnings per share on a fully diluted basis for the year to be $.44
to $.48, compared with the previous estimate of $.40 to $.44. "Our
sales projections for the first quarter of 2004 are developing as
we expected," said Roger Hruby, CFC's Chairman and CEO. "Earlier
this year, a major competitor in printed products exited the market
and, as a result, our domestic printed products sales are running
approximately 96 percent ahead of last year for the two months
ended February 29, 2004. In addition, sales for our worldwide
holographic products are 85 percent stronger for the two months
ended February 29, 2004 as compared to the same period last year."
The Company also reports that it has completed its purchase of the
additional land, manufacturing and warehouse space from Chroma
Corporation as of February 18, 2004, and has started to relocate
inventory and raw material into this space. In addition, the
Company has moved material from a 10,000 square foot leased
warehouse in Chicago Heights, Illinois into this newly acquired
facility. Headquartered in Chicago Heights, Illinois, CFC
International is a market leader in the design, manufacture and
marketing of holographics and specialty functional coatings that
add value to a wide variety of industrial and consumer products.
The Company operates facilities in Chicago Heights and Countryside,
Illinois; London, England; and Goppingen, Germany. Statements made
in this press release, including those relating to expectations of
future sales, net income and operating costs reductions,
estimations of the market size for certain of the company's
products or the company's share of those markets and expectations
of increased sales attributable to various product lines, are
forward-looking and are made pursuant to the safe harbor provisions
of the Securities Reform Act of 1995. Such statements involve risks
anduncertainties which may cause results to differ materially from
those set forth in those statements. Among other things, continued
unfavorable economic conditions may impact market growth trends or
otherwise impact the demand for the company's products and
services; competition from existing and new competitors and
producers of alternative products will impact the company's ability
to penetrate or expand its presence in new or growing markets;
uncertainties relating to the company's ability to develop and
distribute new proprietary products to respond to market needs in a
timely manner may impact the company's ability to exploit new or
growing markets; the company's ability to successfully identify and
implement productivity improvements and cost reduction initiatives
may impact profitability; and risks inherent in international
operations, including possible economic, political or monetary
instability, may impact the level and profitability of the
company's foreign sales. In addition to the factors set forth in
this release, the economic, competitive, governmental,
technological and other factors identified in the company's filings
with the Securities and Exchange Commission, could affect the
forward-looking statements contained in this press release. We have
no obligation to revise or update these forward- looking statements
to reflect events or circumstances that arise after the date of
this press release or to reflect the occurrence of anticipated
events. You may access additional information, including our
filings with the Securities and Exchange Commission and previous
press releases by visiting CFC International's Internet homepage at
http://www.cfcintl.com/ . DATASOURCE: CFC International, Inc.
CONTACT: Dennis Lakomy of CFCInternational, +1-708-757-2803 Web
site: http://www.cfcintl.com/ Company News On-Call:
http://www.prnewswire.com/comp/110663.html
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