Secom General Expects to Report One to Three Cent Operating Profit
9 April 1999
Secom General Expects to Report One to Three Cent Operating Profit for Fiscal Second Quarter Ended Mar. 31, 1999NOVI, Mich., April 9 -- Secom General Corporation today announced it expects to earn from one to three cents per share for its second quarter ended Mar. 31, 1999, compared to a net loss of $0.73 per share in the same quarter last year. "The improvement in operating results is principally due to our Uniflow unit continuing to benefit from price increases and shop-floor cost containment steps, as well as consolidating two tooling units, Micanol into L&H Die," said Paul D. Clemente, Secom's vice president. Secom is a leading supplier of various metal parts and tooling for primarily the automotive and trucking industries. Secom operates in two business segments: (1) metal parts forming, and (2) tooling for the cold/hot forming industry. Sales and manufacturing are completed through four subsidiaries located in the metropolitan Detroit area. This management's press release includes a number of forward-looking statements, which reflect the company's current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause results to differ materially from historical results or those anticipated. In this release, the words "expects", "anticipates", "believes" and similar expressions identify forward-looking statements, which speak only as to the date hereof.