GSI Lumonics Reports Preliminary First Quarter, 2004 Financial Information
14 April 2004 - 9:47AM
PR Newswire (US)
GSI Lumonics Reports Preliminary First Quarter, 2004 Financial
Information BILLERICA, Mass., April 13 /PRNewswire-FirstCall/ --
GSI Lumonics today announced preliminary revenues for the first
quarter ended on April 2, 2004 will be in the range of US$73 to $75
million. Bookings were approximately $86 million. Gross margin will
be slightly improved over the fourth quarter 2003. Additionally,
the income tax rate for fiscal year 2004 is expected to be
substantially below the statutory tax rates. "We believe that the
investment community should be aware of these significant
improvements in the Company's financial performance as they are
materially different from analysts' estimates," stated Charles
Winston, GSI Lumonics' President and Chief Executive Officer. The
Company will announce its first quarter financial results on
Thursday, April 29, 2004 at 4:00 p.m. Eastern Time over PR Newswire
(US and Canadian distribution). Following the announcement, GSI
Lumonics will host a conference call for investors at 6:00 p.m.
Eastern Time. To participate, call 888-396-2369 (within the US and
Canada) and 617-847-8710 (for international callers) no earlier
than 5:50 p.m. Eastern Time and no later than 5:55 p.m. Eastern
Time and identify yourself to the operator with the participant
code of 52915756. A replay of the call will be available one hour
after the call ends to midnight, May 13, 2004 by dialing
888-286-8010 (within the US and Canada) or 617-801- 6888 (for
international callers). The access code is 20210784. The conference
call also will be broadcast live over the Internet in listen-only
mode. For live webcasting, go to:
http://www.firstcallevents.com/service/ajwz403858572gf12.html at
least 15 minutes prior to the call in order to register, download
and install any necessary software. The call will be archived on
the above web site until midnight, May 13, 2004. GSI Lumonics
supplies precision motion control components, lasers and
laser-based advanced manufacturing systems to the global medical,
semiconductor, electronics, and industrial markets. GSI Lumonics'
common shares are listed on Nasdaq (GSLI) and The Toronto Stock
Exchange (LSI). The Company's web site address is
http://www.gsilumonics.com/. Certain statements in this news
release may constitute forward-looking statements within the
meaning of the United States Private Securities Litigation Reform
Act of 1995, Section 27A of the United States Securities Act of
1933 and Section 21E of the United States Securities Exchange Act
of 1934. These forward-looking statements may relate to anticipated
financial performance, management's plans and objectives for future
operations, business prospects, outcome of regulatory proceedings,
market conditions, tax issues and other matters. All statements
contained in this news release that do not relate to matters of
historical fact should be considered forward-looking statements,
and are generally identified by words such as "anticipate,"
"believe," "estimate," "expect," "intend," "plan," "objective" and
other similar expressions. Readers should not place undue reliance
on the forward- looking statements contained in this news release.
Such statements are based on management's beliefs and assumptions
and on information currently available to management and are
subject to risks, uncertainties and changes in condition,
significance, value and effect. Other risks include the fact that
the Company's sales have been and are expected to continue to be
dependent upon customer capital equipment expenditures, which are,
in turn, affected by business cycles in the markets served by those
customers. Other factors include volatility in the semiconductor
industry, the risk of order delays and cancellations, the risk of
delays by customers in introducing their new products and market
acceptance of products incorporating subsystems supplied by the
Company, similar risks to the Company of delays in its new
products, our ability to continue to reduce costs and capital
expenditures, our ability to focus R&D investment and other
risks detailed in reports and documents filed by the Company with
the United States Securities and Exchange Commission and with
securities regulatory authorities in Canada. Such risks,
uncertainties and changes in condition, significance, value and
effect, many of which are beyond the Company's control, could cause
the Company's actual results and other future events to differ
materially from those anticipated. The Company does not, however,
assume any obligation to update these forward- looking statements
to reflect actual results, changes in assumptions or changes in
other factors affecting such forward-looking statements. For more
information contact: Investor Relations, 613-224-4868, Ann Dempsey,
(ext. 2) DATASOURCE: GSI Lumonics CONTACT: Ann Dempsey, Investor
Relations of GSI Lumonics +1-613-224-4868 (ext. 2) Company News
On-Call: http://www.prnewswire.com/comp/107189.html
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