Noble Announces 4Q Earnings Expected To Exceed Analyst Expectations
6 January 1999
Noble International Announces 4th Quarter Earnings Expected To Exceed Analyst ExpectationsBLOOMFIELD HILLS, Mich., Jan. 6 -- Noble International, Ltd. ("Noble") (Amex: NIL) today reported that it expects to exceed analyst estimates for earnings per share for the fourth quarter ended December 31, 1998. Noble expects to report earnings per share for the fourth quarter of at least ten cents above the current analyst estimate of 23 cents per share. The increase in net income is attributable to several items, including certain year-end transactions as well as greater than expected sales volumes for laser-welded blanks at Noble Metal Processing, Inc.; steel blanks at H&H Steel Processing, Inc., and plastic injection and coating services at its Canadian operations, Tiercon Industries Inc. "The higher than expected results for the fourth quarter reflect increased sales, as well as growing use in the marketplace of Noble-manufactured products," said Robert J. Skandalaris, Noble's Chairman and Chief Executive Officer. "We also took advantage of operating efficiencies and certain restructured transactions." Noble International, Ltd. is a leading full-service Tier II supplier of automotive parts, component assemblies and value-added services to the automotive industry. As a Tier II supplier, Noble provides design, engineering, manufacturing, complete program management and other services to the automotive market. Noble delivers integrated component solutions, technological leadership and product innovation to original equipment manufacturers (OEMs) and Tier I automotive parts suppliers thereby helping its customers increase their productivity while controlling costs. Certain statements in this news release maybe "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933. Statements regarding future prospects and developments are based upon current expectations and involve certain risks and uncertainties that could cause actual results and developments to differ materially from the forward-looking statements.