DIAMOND HOME SERVICES, INC. STOCKHOLDERS ELECT FIVE DIRECTORS AT ANNUAL MEETING.WOODSTOCK, Ill.--(BUSINESS WIRE)--May 15, 1997--At the annual meeting, held today, stockholders of Diamond Home Services, Inc. (Nasdaq/NM:DHMS DHMS Dense Hydrous Magnesium Silicate(s) DHMS Dakota Hills Middle School (Eagan, MN) DHMS Diploma in Homeopathic Medicine & Surgery DHMS Data, Hour, Minutes, Seconds ) elected five directors to the Board. Those elected to serve one- year terms were: C. Stephen Clegg, Chairman of the Board and Chief Executive Officer of Diamond Home Services, Inc.; James F. Ber, Jr., Chairman of the Board and Chief Executive Officer of Ameritel Corporation; James M. Gillespie, Vice President-Business Development for Diamond Home Services, Inc.; Jacob Pollock, Chairman and Chief Executive Officer of Ravens ravens during drought, Elijah is fed by them. [O.T.: I Kings 17:1–6] See : Protectiveness Metal Products Inc.; and George A. Stinson, currently retired from active corporate management and the practice of law. In comments made to stockholders at the meeting, Clegg said, "Our revenues for 1997 to date are approximately 7% above the comparable 1996 period. Only recently has our installed home improvement business started to see a measurable increase in lead productions commensurate com·men·su·rate adj. 1. Of the same size, extent, or duration as another. 2. Corresponding in size or degree; proportionate: a salary commensurate with my performance. 3. with our ongoing investments in advertising and operating infrastructure. Consequently, our revised estimates Revised estimate The third estimate of GDP released about three months after the measurement period. for revenues in the second quarter of 1997, together with ongoing planned investments in advertising and infrastructure, may cause income for the second quarter of 1997 to fall as much as 50% below year-earlier levels. "We continue to have confidence in the Company's operating model Operating Model is a term that is used in many contexts. In essence an operating model describes how an organization operates across both business and technology domains. The Operating Model describes what is important for the organization. and the enormous opportunities available in the installed home improvement industry," Clegg continued, "We are at the start of our busiest season and do not believe it prudent to revise our planned investments in advertising and operating infrastructure at this time." Diamond Home Services, Inc. is a leading national marketer and contractor of installed home improvement products, including roofing systems, gutters, doors and fencing. The Company markets its installed home improvement products and services directly to consumers, primarily under the "SEARS Sears , Richard Warren 1863-1914. American merchant who founded (1886) the mail-order business that became Sears, Roebuck and Company. " brand name. Through its finance subsidiary, Marquise Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , Inc., the Company also offers financing to its customers. The Company has 75 sales offices located in major cities across the U.S., providing the Company with a presence in markets covering approximately 80% of the owner-occupied households in the U.S. Certain statements contained herein which are not of a historical nature, including without limitation, statements addressing the beliefs, plans, objectives, estimates or expectations of the Company or future results or events, 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, including, but not limited to, general economic and business conditions, matters related to the Sears License, warranty exposure, the Company's reliance on sales associates and on the availability of qualified independent installers, and conditions in the installed home improvement industry. There can be no assurance that actual future results, performance or achievements of the Company will not differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Users of forward-looking statements are encouraged to review the Company's 1996 annual report on 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. which describes other important factors that may affect the Company's business, results of operations and financial condition. CONTACT: Diamond Home Services, Inc., Woodstock Richard G. Reece, 815/334-2414 |
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