Noble International Announces 1st Quarter Earnings Expected
13 April 1999
Noble International Announces 1st Quarter Earnings Expected to Exceed Analyst ExpectationsBLOOMFIELD HILLS, Mich., April 12 -- Noble International, Ltd. ("Noble") (Amex: NIL) today reported that it expects to exceed analyst estimates for earnings per share for the first quarter ended March 31, 1999. Noble expects to report earnings per share for the first quarter at least twenty five percent above the current analyst estimate of 26 cents per share. The increase in net income is principally attributable to 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 first quarter reflect increased sales to our customers, gains in operating efficiencies and increased off-load work, said Robert J. Skandalaris, Noble's Chairman and Chief Executive Officer. Noble International, Ltd. is a leading full-service supplier of automotive parts, technology, component assemblies and value-added services to the automotive industry. As a 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 suppliers, thereby helping its customers increase their productivity while controlling costs. Certain statements in this news release may be "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.