AAON Foresees Second Quarter Record Sales and Lower Earnings.TULSA Tulsa (tŭl`sə), city (1990 pop. 367,302), seat of Tulsa co., NE Okla., on the Arkansas River east of its junction with the Cimarron; inc. 1898. , Okla. -- AAON AAON American Association of Office Nurses , Inc. (Nasdaq:AAON) today announced that it expects to report record sales for the second quarter ended June 30, 2004, while net income will be substantially less than the first quarter of 2004. The higher sales are attributable to a record backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. and some contribution of revenues from AAON Canada, Inc., acquired on May 5, 2004, despite closings of the Company's Tulsa plant for four days during the period due to computer and electrical outages. The lower earnings resulted from the continued impact of higher steel and copper prices and startup costs associated with a new coil project, a loss incurred by AAON Canada, Inc., equipment failures at the Company's Longview, Texas Longview is a city in Texas, United States, located between Dallas, TX and Shreveport, LA. The population was 73,345 at the 2000 census, but a 2005 estimate placed the city's population at 75,609. plant, which prevented coil production needed by the Tulsa facility, and the above-referenced plant closings. This press 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. " within the meaning of Section 27A of the Securities Act of 1933. Statements regarding future prospects and developments are based upon current expectations and involve certain risks and uncertainties that could cause actual results and developments to differ materially from the forward-looking statements. |
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