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Non-Tech : SFP -- Salton Inc. -- Ignore unavailable to you. Want to Upgrade?

To: PJ who wrote (79)	9/19/1999 11:30:00 AM
From: PJ	Read Replies (1) \| Respond to of 173

Corporate Profile Salton, Inc. designs and markets an extensive line of kitchen and home appliances, personal and beauty care products and decorative quartz wall and alarm clocks under the brand names Salton®, Toastmaster®, Breadman®, Juiceman®, Salton Creations®, Ingraham®, Salton Time®, White-Westinghouse®, and Farberware®. The Company also designs and markets a broad range of tabletop products, including china, crystal and glassware, under the brand names Block® China, Atlantis® Crystal, and Gear®. History of Company Ingraham® brand name on time products used since 1831 1st pop-up toaster introduced by Toastmaster in 1926 Salton brand introduced in 1947 Current Corporation founded in 1988 Initial public offering in 1991 Breadman® and Juiceman® acquired in 1993 Block China acquisition in 1996 Completed recapitalization in July 1998 Completed Toastmaster acquisition in January 1999 Latest Earnings Release Reported results for its fiscal 1999 fourth quarter and year ended June 26, 1999: For the quarter, net sales increased 93.6% to a record $134.7 million, compared with $69.6 million in the same period last year. Net income increased 104.8% to $6.9 million, compared to $3.4 million in the same quarter a year ago, before a non-recurring after-tax gain of approximately $4.9 million ($8.2 million before taxes), or $0.24 per diluted share in the comparable quarter a year-ago from the sale of shares held as marketable securities by Salton, as well as after-tax costs of approximately $681,000 ($1.1 million before taxes), or $0.03 per diluted share, associated with the refinancing of Salton's credit facility. Diluted earnings per share increased to a record $0.48 from $0.16 in the prior year's period, before the previously mentioned non-recurring after tax gain and refinancing costs. The weighted average common and common equivalent shares outstanding for the quarter were 14,391,275, compared with 20,427,867 in last year's quarter; both share counts reflect the recent three-for-two stock split. For the year, net sales increased 65.6% to a record $506.1 million, compared with $305.6 million in the same period last year. Net income increased 126.1% to $34.5 million, compared to $15.3 million in the same period last year, excluding a non-recurring after-tax gain of approximately $5.4 million ($9.0 million before taxes), or $0.27 per diluted share in the comparable period a year-ago from the sale of shares held as marketable securities by Salton, and after-tax costs of approximately $681,000 ($1.1 million before taxes), or $0.03 per diluted share, associated with the above mentioned refinancing. Certain matters discussed in this news release are forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements. These factors include: the integration of Toastmaster, including the failure to realize anticipated revenue enhancements and cost savings; the Company's relationship and contractual arrangements with key customers, suppliers and licensors; the risks relating to pending legal proceedings; cancellation or reduction of orders; the timely development, introduction and customer acceptance of the Company's products; dependence on foreign suppliers and supply and manufacturing constraints; competitive products and pricing; economic conditions and the retail environment; the availability and success of future acquisitions; the Company's degree of leverage; the risks related to intellectual property rights; year 2000 issues and other risks and uncertainties detailed from time to time in the Company's Securities and Exchange Commission filings. Shareholder Information Exchange The New York Stock Exchange Stock Quote (SFP) 26 7/8 Minimum 20 minutes delayed Listed Security SFP Common Stock Transfer Agent