Re: Asia Warnings
Has market cap of $348 million. Annual sales of $450 million. This release is a little strange. Sounds like the real problems may not be related to Asia, but may have been a convenient excuse. Just my pure guess.
MikeM(From Florida)
**********************************
Brush Wellman Comments on Second QuarterPerformance
CLEVELAND--(BUSINESS WIRE)--June 11, 1998--Gordon D. Harnett, Chairman, President and Chief Executive Officer of Brush Wellman Inc. BW today commented on the outlook for the second quarter. "During the second quarter, capacity constraints and start-up issues on our alloy expansion have inhibited our ability to meet customer demand and have adversely impacted operating costs. In addition, our second quarter revenues are being affected by an apparent slowdown in some markets, particularly in Asian and U.S. electronics sectors. Also, earnings continue to be pressured by the strong dollar. Therefore, it now appears that second quarter 1998 diluted earnings per share could be as much as 50% lower than the second quarter 1997 earnings of $0.46 per share, diluted.
Brush Wellman Inc., with headquarters in Cleveland, Ohio, is a manufacturer of engineered materials. The Company and its subsidiaries supply worldwide markets with Beryllium Products, Alloy Products, Ceramic Products, Precious Metal Products and Engineered Material Systems. |
