Cfc (NASDAQ:CFCI)
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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