CADE
To: Glenn T who wrote (3537)
From: Glenn M Wednesday, Aug 25 1999 10:53AM ET
Reply # of 3538
08/25 08:16 Cade Industries Ranked By Fortune Magazine As One of America's
CADE.O>
Cade Industries Ranked By Fortune Magazine
As One of America's Fastest-Growing Companies
Second Consecutive Year Cade Included Among Top 50 Companies
OKEMOS, Mich., Aug. 25 /PRNewswire/ -- Cade Industries, Inc. (Nasdaq: CADE), a leading supplier of products and services to the aerospace and air transport industries, has been ranked in the top 50 of Fortune Magazine's 1999 listing of America's 100 Fastest-Growing Companies, for the three years ended June 30, 1999.
In its Sept. 6, 1999 issue, Fortune published its annual list of 100 companies that the magazine calls "remarkable" for their "staggering gains in profits and revenue." Cade is ranked 49th on the list, which is based on the listed companies' gains in earnings per share growth, revenue growth and total return, each measured as a three-year annual rate.
Inclusion in the Fortune rankings requires sales and earnings per share growth of at least 30 percent each year over three years. By the earnings per share measurement, Cade's 123 percent growth placed the company at number 15 overall. Three-year revenue growth was 53 percent, and total return for the three years rose 17 percent.
Cade's president, Richard Lund, said, "We are pleased to be included again on this prestigious and closely followed list. We have had continuing growth in 1999 and recently reported our 14th consecutive quarter of earnings gains. We believe we are on track to meet our goal of a 25 percent gain in earnings for 1999."
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 further information on Cade Industries, you can access the company's web site at www.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.
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/CONTACT: Ken DiPaola, SVP, ken@plrinvest.com, Bill Gordon, Sr. VP, bill@plrinvest.com, Daniel Wolkenfeld, Investor Relations, daniel@plrinvest.com, all of Porter LeVay and Rose, 212-564-4700; S. A. Mull, Shareholder Relations, or E.B. Stephens, CFO, both of Cade, 517-347-1333/
/Company News On-Call: prnewswire.com or fax, 800-758-5804, ext. 075675/
/Web site: cade-industries.com -- DEW010 -- 5835 08/25/99 07:59 EDT prnewswire.com Copyright PR Newswire 1998. All rights reserved.
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