Lamson & Sessions Updates Earnings Estimate Based On Record Net Sales Expectations For The Second Quarter Of 2005
- Net Sales Are Expected to Rise 20 Percent in the Second Quarter
- Strength in Sales Order Trends Continues in Key Markets
- Company Raises Second Quarter Earnings Estimate to 32 Cents to 34 Cents Per Diluted Share
CLEVELAND,
July 7 /PRNewswire-FirstCall/ -- Lamson & Sessions (NYSE:
LMS) today announced that the Company expects to report record
net sales for the second quarter of 2005. Net sales are expected
to rise approximately 20 percent from the prior-year period
and to exceed $123 million. The Company continues to experience
broad-based strength in its key end markets of industrial and
commercial, residential, and telecommunications infrastructure
construction.As a result of this strong net sales performance,
the Company is raising its earnings estimate for the second
quarter of 2005 to a range of $4.75 million to $5.0 million,
or 32 to 34 cents per diluted share. Previously, the Company
had provided second quarter earnings guidance of 28 to 30 cents
per diluted share. In the second quarter of 2004, the Company
reported net income of $2.7 million, or 19 cents per diluted
share. The Company expects to report its second quarter financial
results on July 26, 2005.Lamson & Sessions is a leading
producer of thermoplastic enclosures, fittings, wiring outlet
boxes and conduit for the electrical, telecommunications, consumer,
power and wastewater markets. For additional information, please
visit our Web site at: www.lamson-sessions.com.
This
press release contains forward-looking statements that involve
risks and uncertainties within the meaning of the Private Securities
Litigation Reform Act of 1995. Actual results may differ materially
from those expected as a result of a variety of factors, such
as: (i) the volatility of resin pricing, (ii) the ability of
the Company to pass through raw material cost increases to
its customers, (iii) maintaining a stable level of housing
starts, telecommunications infrastructure spending, consumer
confidence and general construction trends, (iv) the continued
availability and reasonable terms of bank financing and (v)
any adverse change in the recovery trend of the country's general
economic condition affecting the markets for the Company's
products. Because forward-looking statements are based on a
number of beliefs, estimates and assumptions by management
that could ultimately prove to be inaccurate, there is no assurance
that any forward-looking statement will prove to be accurate.
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