A.C.L.N. Announces It Will Exceed Third Quarter Estimates.PTE-DE-MONACO--(BUSINESS WIRE)--Oct. 27, 1998--A.C.L.N. Limited (Nasdaq NM:ACLNF) announced today that, based upon its preliminary results of operations, third quarter earnings would exceed analyst estimates and that it expects that year-end year-end also year·end n. The end of a year. adj. Occurring or done at the end of the year: a year-end audit. Noun 1. earnings would also exceed analyst estimates. The third quarter earnings estimate by Cruttenden Roth, the company's underwriter underwriter n. a company or person which/who underwrites an insurance policy, issue of corporate securities, business, or project. (See: underwrite) UNDERWRITER, insurances. One who signs a policy of insurance, by which he becomes an insurer. , was recently increased to $.49 from $.41. The company attributed such expected results to three factors: (i) the proceeds from the June June: see month. offering have provided greater liquidity, which has allowed for a larger number of automobiles to be shipped per vessel; (ii) the number of cars shipped for the third quarter exceeded analyst estimates of 20,000 by approximately 20%; and (iii) the volume of cars arriving at the port for shipment is exceeding previous expectations. Third quarter earnings are expected to be released the week of November 2, 1998. The company arranges for the shipment of used automobiles sold in Belgium by independent auto dealers to purchasers who live in North and West Africa West Africa A region of western Africa between the Sahara Desert and the Gulf of Guinea. It was largely controlled by colonial powers until the 20th century. West African adj. & n. and the Middle East, and provides related customs-clearance services. This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. as that term is defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such statements are based on the current expectations of management and are subject to a number of risk factors and uncertainties that could cause actual results for performance of the company to differ materially from those described herein. |
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