6309 Monarch Park Place, Suite 203
Niwot, CO 80503, USA
Phone (303) 443-5060
Toll free (888) 742-5060
For the fiscal 2003 third quarter, the company expects to report revenues of approximately $216.0 million, and diluted earnings per share of approximately $0.19. Gross margins for the fiscal 2003 third quarter are expected to be approximately 45%, in line with the company's previous guidance. The company's expected revenues for the third quarter of fiscal 2003 represent growth over the year ago period of approximately 3%.
''We are very pleased with our expected results for the fiscal 2003 third quarter,'' said Mitchell Jacobson, chairman and CEO.
''At the start of the quarter we noted that our visibility was limited by the uncertain outlook for the industrial sector and the apparent effect of the war in Iraq on some clients' purchasing decisions. In this environment, we continued to make it a priority to leverage our position as a market leader with a strong financial position and a reputation for superior customer service. In this way, we were able to continue to gain market share and also further expand our presence in non-industrial markets. The net result is that we expect to report solid financial performance for the period and to once again exceed our stated goal of converting 25 percent of incremental revenues into operating income. Month to date, sales growth in June has continued to trend at approximately 3 percent over the prior year, and we continue to be confident in our ability to successfully execute on our strategy.''
The company will report its results for the fiscal 2003 third quarter before the market opens on July 15th, 2003.