Secom General Expects to Report 8 to 12 Cent Operating Profit For Fiscal Q3
23 June 1999
Secom General Expects to Report Eight to Twelve Cent Operating Profit For Fiscal Third Quarter Ending Jun. 30, 1999NOVI, Mich., June 23 -- Secom General Corporation today announced it expects to earn from eight to twelve cents per share from operations for its third quarter ending Jun. 30, 1999, compared to a net loss of $0.90 per share, in the same quarter last year. "The improvement in operating results is principally due to continued improvement at our Uniflow unit," said Paul D. Clemente, Secom's vice president. He also added the Company anticipates positive results from operations in future quarters. Separately, the company said the Nasdaq has approved the company's application to be listed on The Nasdaq SmallCap Market under its old trading symbol of SECM. 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.