Aftermarket Technology Corp. Expects Slightly Higher Q3 Earnings
Remains on Track For $1.50 EPS in 2001 Announces Another Logistics Win
WESTMONT, Ill., Sep 25, 2001 /PRNewswire via COMTEX/ -- Aftermarket Technology Corp. (Nasdaq: ATAC chart, msgs), today announced further improvements in the outlook for the third quarter and reaffirmed that it remains on track to achieve $1.50 EPS in 2001.
Mike DuBose, Chairman, President and CEO said, "The improvements we continue to make in our business combined with the strong demand for our products and services are beginning to be reflected in our financial performance. Demand for our remanufactured transmissions remains strong and we expect consumer demand for cell phones to increase during the next few months."
"We expect to achieve $0.39 EPS before special charges for the third quarter and $1.50 EPS for 2001. For the year, this represents earnings growth of 39 percent as compared to last year. Significantly, we are also well- positioned to deliver in excess of 15 percent EPS growth in 2002 over 2001."
"I am pleased to report that ATC was awarded incremental logistics business from one of our key customers, Ford Motor Company. As part of our overall core management services, we will apply our CoreTraq.com systems and processes to assist Ford in the control and management of their inventory supporting all of Ford's remanufactured products. This new business will contribute to our future growth as well as further enhance the breadth of our logistics services."
In other news, ATC announced that for the eighth consecutive year the Company had received the DaimlerChrysler Gold Award, the top recognition available to its suppliers.
ATC is headquartered in Westmont, Illinois. The Company's operations include drivetrain remanufacturing, third party logistics and material recovery services. ATC also remanufactures instrument and display clusters and radios.
The preceding paragraphs contain statements that are not related to historical results and are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those that are predictive or express expectations, that depend upon or refer to future events or conditions, or that concern future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, or possible future Company actions. Forward-looking statements involve risks and uncertainties because such statements are based on current expectations, projections and assumptions regarding future events that may not prove to be accurate. Actual results may differ materially from those projected or implied in the forward-looking statements. The factors that could cause actual results to differ are discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2000 and other filings made by the Company with the Securities and Exchange Commission.
Source: Aftermarket Technology Corp.
Contact:
Mary Ryan of Aftermarket Technology Corp., +1-630-734-2383
URL: atcaff.com |
