Cade Industries (CADE) Ranked as One of Best Managed Small Companies in Performance
Wednesday June 9, 8:00 am Eastern Time
Company Press Release
SOURCE: Cade Industries, Inc.
Cade Industries Ranked as One of
Best Managed Small Companies in Performance
Measurements by Aviation Week
Company Also Scores High in Study's 'Improvement Index'
OKEMOS, Mich., June 9 /PRNewswire/ -- Cade Industries, Inc. (Nasdaq: CADE -
news), a
leading supplier of products and services to the aerospace and air transport industries,
announced
today that it has been ranked in the annual ''Best in the Business'' issue of Aviation Week
& Space
Technology as one of the ''best managed small companies,'' based on performance
measurements
that include asset utilization, productivity and financial stability.
The Best Managed Company Awards rank publicly traded companies that derive at least
30 percent
of their revenues from aerospace/defense related sales. Rankings are based on the sum of
scores
computed for 25 ratios that support the three weighted ''aerospace'' performance
measures. Cade's
total score of 58.2 for 1998 placed the company at number 36 in the performance
rankings.
Cade was also ranked among the leaders in the study's ''Improvement Index,'' which is
based on
improvement in the performance measures from 1994 to 1998. The company improved
its overall
performance 21 percent in that period, including a 147 percent improvement in asset
utilization and
11 percent improvement in financial stability. These gains helped place Cade as 11th
highest overall
in the improvement index.
Richard Lund, president of Cade Industries, said, ''Cade is honored to be represented on
this
prestigious list, as one of our industry's top performers. Our goal for 1999 is a 25 percent
gain in
earnings on a 10 to 15 percent increase in revenues for the year.''
Cade designs, develops, manufactures, overhauls and repairs high technology composite
components for the aerospace and air transport industries, and is a global leader in the
design and
manufacture of jet engine test facilities and related ground testing equipment. The
company's
operating subsidiaries are located in Lansing, Michigan; San Diego, California; Grand
Prairie, Texas;
and Minneapolis, Minnesota.
For more information or to receive a copy of this press release, please call our Company
News On
Call at 1-800-758-5804 -- extension 075675 -- or you can access the information via
the Internet
at prnewswire.com.
For further information on Cade Industries, you can access the company's web site at
cade-industries.com.
The above statements involving industry conditions and company sales and profits are
forward-looking statements that involve a number of risks and uncertainties. Among the
factors that
could cause actual results to differ materially from those which are anticipated are the
following:
business conditions generally and conditions specifically in the aircraft and aerospace
industries;
timing of receipt and delivery of orders; the timing and satisfactory completion of engine
test facilities;
price fluctuations for raw materials and labor; competitive factors, including price
competition from
other suppliers of similar products and overhaul and repair services; risk of obsolescence
of tooling
inventory before full amortization on project costs; insurance proceeds; and cancellation
of orders.
SOURCE: Cade Industries, Inc. |
