WALKER POWER MODIFIES OUTLOOK FOR FISCAL YEAR
WALKER POWER MODIFIES OUTLOOK FOR FISCAL YEAR WARNER, N.H., June 3 /PRNewswire/ -- Walker Power, Inc.
(NASDAQ: WPIC), a leading designer, manufacturer and marketer of power conversion components and complete power systems, today announced that it anticipates the results for the third quarter, ending June 28, 1992, and the fourth quarter ending Sept. 27, 1992, will reflect lower than anticipated revenues and earnings. The company estimates it will generate modest profitability on revenues of approximately $2.4 million in the third quarter and $2.8 million in the fourth quarter.
The company, whose products include arc lamp ballasts used in medical endoscopes and power conversion equipment used in the thermal processing industry, indicated that demand for endoscopic lighting remains strong, but that several customers have requested delays in product shipment in order to modify their manufacturing processes and facilitate the implementation of JIT programs designed to help them better serve this rapidly growing segment of the medical industry. In addition, two of the company's customers in the thermal processing industry are involved in corporate restructuring efforts which have resulted in slower than anticipated equipment orders in the Power Systems Group. Michael Foster, president and CEO of Walker Power commented, "Although the projected revenues and earnings for the third and fourth quarter are a disappointment, they do not represent a broad decline in our markets. We currently have several new product development programs underway and will have new product announcements on two of our Xenon ballasts within the next week. We expect fiscal year-end revenues, net income and earnings per share will be up over last year." Walker Power designs, manufactures and markets power conversion components and complete power systems. The company's products are used in a variety of medical, commercial and industrial applications, including medical endoscopes, entertainment lighting, thermal processing equipment and high-rise elevators. -0- 6/3/92 /CONTACT: Michael Foster of Walker Power, 603-456-3111, or Matthew J. Harrington of Edelman Public Relations Worldwide, 212-704-8103, for Walker Power/ (WPIC) CO: Walker Power, Inc. ST: New Hampshire IN: SU: ERP
AH-LR -- NY068 -- 6740 06/03/92 16:39 EDT
|Printer friendly Cite/link Email Feedback|
|Date:||Jun 3, 1992|
|Previous Article:||WCI STEEL TO RAISE PRICES $10 PER TON|
|Next Article:||SUMMIT TAX EXEMPT BOND FUND ANNOUNCES SALE OF CLARENDON HILLS PROPERTY|