Craftmade Announces That Preliminary Results Indicate It Will Surpass Analysts Estimates for Its Fourth Quarter and Year Ended June 30, 2000.Business Editors COPPELL, Texas--(BUSINESS WIRE)--July 25, 2000 Craftmade International, Inc. (Nasdaq: CRFT) Craftmade International, Inc. today announced it expects the company's fourth quarter earnings results to be $0.20 to $0.25 per share based on unaudited, preliminary results. Current analysts' consensus estimates are $0.18 for the quarter and $0.59 cents for the year. A year ago, Craftmade earned $0.13 in the fourth quarter and $0.76 for the year. The company said net earnings and earnings per share for the fourth quarter this year are expected to be substantially higher than the year ago period. There were fewer shares outstanding in the quarter and year due to the company's stock buyback Stock buyback A corporation's purchase of its own outstanding stock, usually in order to raise the company's earnings per share. stock buyback See buyback. program. Certain statements in this News Release constitute "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 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 forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Craftmade International, Inc. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These factors are discussed in more detail in the Company's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filing with the Securities and Exchange Commission. Craftmade International, Inc. is engaged in the design, distribution and marketing of ceiling fans, light kits and accessories manufactured to its specifications. The Company currently markets over two dozen fan designs, nearly eighty lighting fixture An article in the nature of Personal Property which has been so annexed to the realty that it is regarded as a part of the real property. That which is fixed or attached to something permanently as an appendage and is not removable. models and over one hundred interchangeable in·ter·change·a·ble adj. That can be interchanged: interchangeable items of clothing; interchangeable automotive parts. in pieces of crystal and glass under its Craftmade brand and nearly two dozen styles of bathstrip lighting and over forty designs of outdoor lighting under its Accolade tradename. The Company's wholly-owned subsidiary, Trade Source International, Inc., is engaged in the design, distribution and marketing of outdoor lighting fixtures to major retail home improvement chains, including Lowe's, Home Depot The Home Depot (NYSE: HD) is an American retailer of home improvement and construction products and services. Headquartered in Vinings, just outside Atlanta in unincorporated Cobb County, Georgia, Home Depot employs more than 355,000 people and operates 2,164 big-box and Wal-Mart. |
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