REPT .38(PR NEWSWIRE) Reptron Electronics, Inc. Announces Closing of Distribution Divis
on Sale
Reptron Electronics, Inc. Announces Closing of Distribution Division Sale
TAMPA, Fla., June 13 /PRNewswire-FirstCall/ --
Reptron Electronics, Inc. (Nasdaq: REPT), an electronic manufacturing supply
chain services company, today reported the closing of a previously announced
agreement to sell its electronic components distribution division to Jaco
Electronics, Inc. (Nasdaq: JACO).
"This closing culminates a significant element of our strategy to restore
profitable operating results for Reptron Electronics, Inc," said Paul Plante,
Reptron's President and Chief Operating Officer. "With the successful
completion of this transaction, Reptron will now be able to provide a renewed
focus on our core businesses in the electronics manufacturing services, memory
module and display business sectors."
The former Reptron distribution division recorded net sales of
$109 million in 2002, or about 34% of Reptron's total net sales. The division
recorded an operating loss of $17.3 million in 2002, approximately 95% of
Reptron's total operating loss. Reptron Electronics, Inc. will continue to
operate its Reptron Manufacturing Services, Reptron Memory Module and Reptron
Display & Systems Integration divisions. These business units collectively
recorded 2002 net sales of $211 million and incurred a 2002 operating loss of
$932,000.
About Reptron
Reptron Electronics, Inc. is a leading electronics manufacturing supply
chain services company providing engineering services, electronics
manufacturing services and display integration services. Reptron Manufacturing
Services offers full electronics manufacturing services including complex
circuit board assembly, complete supply chain services and manufacturing
engineering services to OEMs in a wide variety of industries. Reptron Display
and System Integration provides value-added display design engineering and
system integration services to OEMs. For more information, please access
www.reptron.com .
Safe Harbor statement under the
Private Securities Litigation Reform Act of 1995:
Certain of the above statements contained in this press release, are
forward-looking statements that involve a number of risks and uncertainties.
Such forward-looking statements are within the meaning of that term in Section
27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Act of 1934, as amended. Factors that could cause actual results to
differ materially include the following: business conditions and growth in the
Company's industry and in the general economy, competitive factors, risks due
to shifts in market demand, risks inherent with predicting revenue and
earnings outcomes, uncertainties involved in implementing improvements in the
manufacturing process, the ability of the Company to complete and integrate
acquisitions, and the risk factors listed from time to time in the Company's
reports filed with the Securities and Exchange Commission as well as
assumptions regarding the foregoing. The words "believe," "estimate,"
"expect," "intend," "anticipate," "plan," "appears," and similar expressions
and variations thereof identify certain of such forward-looking statements,
which speak only as of the dates on which they were made. The Company
undertakes no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events, or
otherwise. Readers are cautioned that any such forward-looking statements are
not guarantees of future performance and involve risks and uncertainties, and
that actual results may differ materially from those indicated in the forward-
looking statements as a result of various factors. Readers are cautioned not
to place undue reliance on these forward-looking statements.
SOURCE Reptron Electronics, Inc.
-0- 06/13/2003
/CONTACT: Paul J. Plante, President and Chief Operating Officer, Reptron
Electronics, Inc., +1-813-854-2351, or pplante@reptron.com /
/Web site: reptron.com /
(REPT JACO)
CO: Reptron Electronics, Inc.; Jaco Electronics, Inc.
ST: Florida
IN: CPR CSE
SU: TNM
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