KYZN conference call @ 11:30 est vcall.com
also some news: (note bold)
Friday April 7, 4:08 pm Eastern Time
Company Press Release
Kyzen Corp. Reports First Quarter Results
NASHVILLE, Tenn.--(BUSINESS WIRE)--April 7, 2000--Kyzen
Corp. (OTC BB:KYZN), a leading provider of CFC-free specialty chemicals and processes for precision cleaning applications in high-technology manufacturing, Friday
announced record results for first quarter ended March 31, 2000.
For the first quarter of 2000, overall revenue increased 5.4 percent to an all-time high of $1.7 million, when compared with 1999 first quarter revenue of $1.6 million. Net income for the first quarter of 2000 was a record $73,673, or $0.02 per share, versus a net loss of $22,862, or $0.00 per share, in the first quarter of 1999. The 1999 first quarter net loss included a non-cash charge of $87,184.
Kyzen President and CEO Kyle Doyel commented, ``We are pleased with our record first quarter results, which are an indication that our plan to increase sales and contain costs is on track. Led by a resurgence in international shipments, our core electronic business was strong, confirming our leadership position in the marketplace. With total operating expenses slightly below last year's first quarter, we continued to strategically leverage our outstanding infrastructure to service and support our
customers. We believe that we have a firm foundation to continue top and bottom line growth throughout the balance of 2000.'
``We expect to see continued organic growth in our core electronic assembly segment,' Doyel continued, ``which should be complemented by additional business in new technology sectors including semiconductor, optics and aerospace cleaning.'
``The cleaning technology we have been introducing to these new sectors is a direct outgrowth of our expertise in the electronic assembly sector,' Doyel said.
``In particular, there are exciting new developments in the semiconductor industry, including flip chip and various wafer level packaging initiatives, which are scheduled for commercialization this year. We recently chaired technical sessions at two major industry forums focused on new semiconductor technology initiatives, confirming our leadership position in this new rapidly expanding segment. We look forward to seeing the efforts of our work in these areas reflected in our future performance.'
The company's balance sheet at March 31, 2000 remained strong with a current ratio of 3:1, total assets
of $2.9 million, working capital of $1.3 million, cash and equivalents of $0.5 million, shareholders' equity
of $2.2 million and no long-term debt.
Kyzen Corp. is a specialty chemical company focused on CFC-replacement chemistries and processes
for electronic and other high technology industries where precision cleaning processes are required. A
conference call discussing these results will be available on www.vcall.com in the next few days, all
shareholders are invited to tune in.
The statements in this news release that relate to future plans, events or performance are
forward-looking statements that involve risks and uncertainties. Management has included in this news
release certain forward-looking statements within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used,
statements which are not historical in nature, including the words ``anticipate,' ``estimate,' ``should,'
``expect,' ``believe,' ``intend' and other similar expressions are intended to identify forward-looking
statements. Such statements are, by their nature, subject to certain risks and uncertainties. Among the
factors that could cause actual results to differ materially from those projected are the following:
business conditions and the general economy as they affect interest rates; business conditions as they
affect manufacturers of chemical raw materials; the federal, state and local regulatory environment;
availability of debt and equity capital with favorable terms and conditions; availability of new expansion
and acquisition opportunities; changes in the financial condition or corporate strategy of the company's
primary customers; and the ability of the company to develop new competitive product lines. Actual
results, events and performance may differ materially from those projected. Readers are cautioned not
to place undue reliance on these forward-looking statements, which speak only as of the date hereof.
The company undertakes no obligation to release publicly the result of any revisions to these
forward-looking statements that may be made to reflect events or circumstances after the date hereof
or to reflect the occurrence of unanticipated events. |
