Dynamic Materials Reports $20 Million in December '06 Bookings, Establishes New Single-Month Record for Orders
05 January 2007 - 12:00AM
PR Newswire (US)
Contracts Include $8 Million Order for Work on Mid-East Natural Gas
Project BOULDER, Colo., Jan. 4 /PRNewswire-FirstCall/ -- Dynamic
Materials Corporation (DMC) (NASDAQ:BOOM), the world's leading
provider of explosion-welded clad metal plates, today announced
that its Explosive Metalworking business recorded $20 million in
bookings during December 2006, a new single-month record. The
contracts include an $8 million order for work associated with a
natural gas project being constructed in the Middle East. Yvon
Cariou, president and CEO, said the order reflects the strong
demand the company continues to experience from within the oil and
gas industry. "More than half of our December orders were related
to projects in the energy sector. These orders were coming in at
the same time we were producing and delivering clad plates for use
in a large Eastern European refinery project. I am pleased to
report that during the fourth quarter, we completed all shipments
related to this previously announced $11 million contract." Cariou
said that even with the robust shipment activity during the fourth
quarter, management expects to report a year-end order backlog that
is consistent with, or better than, the record $68.5 million figure
reported at the end of last year's third quarter. He also said that
construction of the building associated with the expansion program
at DMC's Mt. Braddock facilities is largely complete, and new
equipment will be arriving throughout the first half of the year.
The expanded facilities are expected to be operational by the end
of the second quarter. DMC expects to report fiscal 2006 fourth
quarter and full-year financial results after the market closes on
February 22, 2007. Details related to the company's year-end
conference call will be provided in a subsequent news release.
About Dynamic Materials Corporation Based in Boulder, Colorado,
Dynamic Materials Corporation is a leading international
metalworking company. Its products, which are typically used in
industrial capital projects, include explosion-welded clad metal
plates and other metal fabrications for use in a variety of
industries, including upstream oil and gas, oil refinery,
petrochemicals, hydrometallurgy, aluminum production, shipbuilding,
power generation, industrial refrigeration and similar industries.
The company operates two business segments: Explosive Metalworking,
which uses proprietary explosive processes to fuse different metals
and alloys, and AMK Welding, which utilizes various technologies to
weld components for use in power-generation turbines, as well as
commercial and military jet engines. For more information, visit
the company's website at http://www.dynamicmaterials.com/. Except
for the historical information contained herein, this news release
contains forward-looking statements that involve risks and
uncertainties including, but not limited to, the following: our
ability to obtain new contracts at attractive prices; the size and
timing of customer orders and shipment; fluctuations in customer
demand; changes to customer orders; competitive factors; the timely
completion of contracts; the timing and size of expenditures; the
timely receipt of government approvals and permits; the adequacy of
local labor supplies at our facilities; current or future limits on
manufacturing capacity at our various operations; the availability
and cost of funds; and general economic conditions, both domestic
and foreign, impacting our business and the business of the
end-market users we serve; as well as the other risks detailed from
time to time in the company's SEC reports, including the report on
Form 10-K for the year ended December 31, 2005. DATASOURCE: Dynamic
Materials Corporation CONTACT: Geoff High of Pfeiffer High Investor
Relations, Inc., +1-303-393-7044, for Dynamic Materials Corporation
Web site: http://www.dynamicmaterials.com/
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