Waters Instruments Announces Pro Forma Earnings for Rutland Electric Fencing Co. Ltd.MINNEAPOLIS -- Waters Instruments, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :WTRS WTRS Wittwer Syndrome ) announces pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma sales and earnings for its fiscal year ended June 30, 2004 which included results from its new subsidiary Zareba za·re·ba also za·ree·ba n. 1. An enclosure of bushes or stakes protecting a campsite or village in northeast Africa. 2. A campsite or village protected by such an enclosure. Systems Europe Limited (Zareba Europe). Zareba Europe acquired Rutland Electric Fencing Co. Ltd., the largest manufacturer of electric fencing products in the United Kingdom on September 27, 2004. The Company reports that for fiscal year 2004, pro forma combined net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight were $32.6 million, as compared to $24.2 million in sales for Waters prior to the acquisition. The pro forma results and related assumptions and disclosures are found in the Company's Form 8-K/A filed with the SEC on December 13, 2004. These pro forma results reflect the acquisition as though it had taken place at the beginning of the year ended June 30, 2004. The actual acquisition closed on September 27, 2004. Pro forma combined net income from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the for fiscal year 2004 was $2,435,000 or $1.05 per basic share compared to $1,976,000 or $0.85 per basic share for the same period prior to the acquisition. "While these are pro forma results, we are pleased with the progress of the integration of our two businesses and the positive impact we believe the acquisition will have on the growth of Waters Instruments," said Jerry Grabowski, president and chief executive officer of Waters Instruments. "We believe this acquisition will help us achieve our goal of $50 million in sales by fiscal year 2008." Zareba Europe's and Rutland's headquarters and manufacturing facilities are located in Oakham in the United Kingdom, with a warehouse in Brechin, Scotland. Rutland has 55 employees and annual sales of approximately $9 million. Its Electric Shepherd energizers are sold to the farming and equestrian equestrian a rider of horses. markets; the Rutland Induced Pulse security fencing system has been accepted as the perimeter defense A defense without an exposed flank, consisting of forces deployed along the perimeter of the defended area. solution for many companies in the United Kingdom and Europe. Waters' Zareba Systems division is North America's largest manufacturer of electric fence
Waters Instruments, Inc. is a customer-focused, market-driven provider of value-added technology solutions from two divisions - Zareba Systems and Waters Medical Systems. Zareba Europe is part of the Zareba Systems division. A Minnesota corporation since 1960, the company's corporate headquarters is located in Minneapolis, with manufacturing facilities in Rochester and Ellendale, Minn. The corporate web site is located at www.wtrs.com. This release includes certain "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 defined under Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the positive impact of the Rutland acquisition and the acquisition's assistance in reaching our goal of $50 million in sales by fiscal year 2008 are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those stated in such statements. Such statements depend on the actual success of the integration of Rutland into Zareba Systems, the ability of Zareba Europe to maintain or improve sales of Rutland, the actual demand for Rutland's products, as well as general competition and other market conditions. In addition, pro forma results are not necessarily indicative of the future income of the combined entity. |
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