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Microcap & Penny Stocks : Cade Industries -- Ignore unavailable to you. Want to Upgrade?

To: Cube who wrote (3115)	8/9/1998 2:45:00 PM
From: Upstock	Read Replies (1) \| Respond to of 3563

A message from Pres. Lund: Dear Shareholder: I wanted to take the opportunity with this mid-year earnings report mailing to address the strength of your Company, our strong earnings results, and report to you on recent Board action. Cade's second quarter 1998 net income rose to $1.08 million, up 101% as compared to the prior year's results. Our net income through the first half of the year was $1.99 million, an increase of 98% over the first six months of 1997. Our order intake has been very strong, resulting in today's record backlog of $88 million. This backlog is expected to increase further in the next six months. This strong performance is a result of high demand for aircraft products, Cade's continued product diversification, as well as the acquisition of Central Engineering. We believe the outlook continues to be favorable and, as I had reported earlier this year, we expect earnings results for 1998 to increase 60% over the results of the prior year. I do not believe the recent weakness in Cade's stock price is consistent with our recent results or our expected earnings for the year. I remain confident in Cade's future and look forward to building upon our strong reputation as a leading supplier of products and services to the international aerospace and air transport industry. I encourage you to visit our web site at www.cade-industries.com for current information on the Company. At our August 4, 1998 Board Meeting, the Company's Directors unanimously adopted a Shareholder Rights Plan which is described in the enclosed information accompanying this letter. The plan is designed to assure that your Board will be able to exercise its best judgment to maximize shareholder value. Your Board presently believes that Shareholders will realize the greatest long-term value through Cade's continued growth as an independent company. The adoption of the Plan is not in response to any known effort to acquire control of the Company, however, the Shareholder Rights Plan will give your Board the flexibility and tools to carefully evaluate all future contingencies. Thank you for your interest in Cade and we look forward to the continued growth of our company. As always, I encourage you to forward any questions you have to our shareholder relations department or directly to me. Sincerely, Richard A. Lund This message was copied from CADE home page. AL