News Release
| Standex Anticipates Lower Second-Quarter Earnings Reflecting Soft Consumer Markets | ||||||||
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SALEM, N.H.--(BUSINESS WIRE)--Jan. 10, 2003--Standex International Corporation (NYSE:SXI) today announced that it anticipates reporting lower than expected earnings for its second quarter ended December 31, 2002 in the range of $0.29 to $0.33 per diluted share, including restructuring charges, as compared to $0.52 per share reported for the same period in the prior year. A weak consumer market combined with soft holiday sales have impacted revenues and operating income of the Company's Consumer Group. "Revenues for the Consumer Group are down 10% for the quarter compared with the 2nd quarter last year resulting in the projected earnings decline," said Roger Fix, President and CEO. "We expect that the performance of our Industrial and Food Service Groups will be essentially flat for the quarter on a year-over-year basis," said Fix.(1) Conference Call Information Standex expects to report its full second-quarter fiscal 2003 financial results before the market opens on Thursday, January 23rd and will host a conference call with President and Chief Executive Officer Roger Fix and Chief Financial Officer, Christian Storch at 10:00 a.m. ET. To join a live web cast of the conference call, please access the "Investor Relations" section of the Company's Web site, located at: www.Standex.com. For those unable to listen to the live broadcast of the conference call, an audio playback will be available beginning at 1:30 p.m. ET on January 23rd through midnight ET on January 30th. To listen to the audio playback please call (800) 475-6701 in the U. S. or (320) 365-3844 internationally; access code 665948. The replay can also be accessed in the "Investor Relations" section of the Company's Web site, located at www.standex.com. About Standex International Corporation Standex International Corporation is a multi-industry manufacturer in three broad business segments: Food Service, Industrial and Consumer with operations in the United States, Europe, Canada, Australia, Singapore and Mexico. (1) These statements are forward looking and involve certain risks, uncertainties and assumptions. Factors affecting the outcome and results include effects on economic growth, competitor activities, pricing pressures, general economic conditions, market demand and other uncertainties described in the Company's report on Form 10-K for the fiscal year ended June 30, 2002. Actual results could differ materially from anticipated or projected results. --30--AC/bo*
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