Server: Netscape-Commerce/1.1 Date: Wednesday, 17-Dec-97 23:02:12 GMT Last-modified: Wednesday, 24-Sep-97 18:52:03 GMT Content-length: 3605 Content-type: text/html
Standex News Release
STANDEX INTERNATIONAL CORPORATION · SALEM, NH 03079 · TEL (603) 893-9701 · FAX (603) 893-7324
FOR IMMEDIATE RELEASE
CONTACT:
Lindsay M. Sedwick Sr. Vice President/CFO
George F. Sweeney George F. Sweeney & Co./NY (212) 213-3388
STANDEX INTERNATIONAL EXPECTS SECOND QUARTER SALES OF $151 MILLION
SALEM, NH, January 8, 1997 Standex International Corporation (NYSE:SXI) announced today that sales for the second quarter ended December 31, 1996, will be $3.3 million below last years record quarter of $154.1 million. Earnings for the quarter are not available at this time, however, they are expected to be below last years record second quarter earnings of $9.2 million, or $.65 per share.
The Company said that continued slowness of its European operations coupled with some selective softness in its higher margin seasonal product lines contributed to the sales shortfall.
"Last years second quarter sales were the highest in the history of Standex," said Edward J. Trainor, President and CEO. "Although we did not match last years second quarter record we will still report the second highest quarterly sales in the Companys history and are pleased that sales activity has shown continued improvement over the past nine month period. Our backlogs are high and we continue to anticipate that fiscal 1997 will be a good year for Standex."
Standex International Corporation, with sales for the fiscal year ended June 30, 1996 of $563 million and operations in the United States, Western Europe, Canada, Australia, Singapore and Mexico, is a diversified manufacturer in three basic growth areas: Industrial Products, Graphics/Mail Order, and Institutional Products.
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