Cott Corporation Makes Strategic Shift From 'Turnaround' To 'Growth'; Sees 2001 Sales Up 10-15% And Earnings Growth Of 30-35%.Business Editors TORONTO--(BUSINESS WIRE)--Feb. 23, 2001 Cott Corporation (Nasdaq:COTT)(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BCB BCB Banco Central do Brasil (Brazil's central bank) BCB Borland C++ Builder BCB Bangladesh Cricket Board BCB Benzocyclobutene (low loss dielectric substrate) BCB Bumiputra-Commerce Bank BCB Broadcast Band .) announced performance expectations for 2001 yesterday at the Consumer Analyst Group of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Annual Conference (CAGNY CAGNY Consumer Analyst Group of New York ) in Naples, Florida. In his presentation, Frank E. Weise, president and chief executive officer, indicated that the Company is anticipating double-digit growth in 2001. "We are looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. sales to grow in the range of 10-15%", said Weise, "as we make the strategic shift from 'turnaround' to 'growth', while continuing to focus on our core business". The Company believes that it can increase case volume 10-12% by building on existing retailer brand share, from product line extensions Product line Extensions and Patient safety In a world of product line extensions, there are many different products with similar names. Examples of these include oxycodone versus oxycontin (oycodone CR), buproprion vs buprion SR vs bruproprion XL, codeine versus codeine contin , including purified drinking water and energy drinks, and from new customers. Cott anticipates diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of to rise 30-35% to $0.49-$0.51 in 2001, EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become of $140-$150 million, and capital expenditures amounting to $35-$40 million as the Company drives margins and cash flow through increased volume, favorable mix, manufacturing efficiencies and continuous cost improvement initiatives such as Six Sigma. In addition, it anticipates a positive impact as it continues to integrate into its business the Concord Beverage assets acquired last October. "As we enter 2001, we expect more from ourselves and you should expect more as a result," said Weise. During the presentation, Mr. Weise reaffirmed the Company's commitment to strengthen and grow in 2001, while highlighting the Company's recently reported fourth quarter and 2000 results which showed a 74% increase in net earnings for the quarter, and 37% for the year. Cott is the world's largest retailer brand soft drink supplier, with the leading take home carbonated soft drink market shares in this segment in its core markets of the United States, Canada and the United Kingdom. This guidance represents management's current estimate of 2001 performance and is subject to the risks and uncertainties contained in the following Safe Harbor Statements. Safe Harbor Statements: This press release contains forward-looking statements reflecting management's current expectations regarding future results of operations, economic performance, financial condition and achievements of the Company. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Company's filings with the appropriate securities commissions, and include, without limitation, stability of the Company's procurement costs for raw and packaging materials, competitive activities by national, regional and retailer brand beverage manufacturers, our ability to integrate acquired businesses into our operations, fluctuations in currency versus the U.S. dollar, the uncertainties of litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , and retailers' continued commitment to their retailer brand beverage programs. The foregoing list of factors is not exhaustive. |
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