Royal Group announces date for fourth quarter earnings release and conference call
01 May 2006 - 10:12AM
PR Newswire (US)
TORONTO, April 30 /PRNewswire-FirstCall/ -- Royal Group
Technologies Limited (RYG - TSX; NYSE) announced today that it
intends to release the Company's audited fiscal 2005 financial
statements on May 1, 2006 for the year ended December 31, 2005.
Royal Group will hold a conference call pertaining to its financial
results on Monday May 1, 2006 at 4:00 p.m. (Toronto Eastern Time).
The conference call will be web cast simultaneously and in its
entirety through the Investor Relations section of the Company's
web site, http://www.royalgrouptech.com/ . The earnings release and
supplemental financial information will be available on the site
prior to the conference call. A replay of the call will be
available on the web site or by phone by dialing (416) 640-1917 and
entering 21187023 followed by the number sign. The telephone replay
will be available approximately two hours after the conference call
and continue through August 1, 2006. An archive of the call will be
maintained on the web site for three months. Royal Group
Technologies is a leading producer of innovative, attractive,
durable and low-maintenance home improvement and building products,
which are primarily utilized in both the renovation and new
construction sectors of the North American construction industry.
Royal Group is the recipient of several industry awards for product
innovation. The company has manufacturing operations located
throughout North America in order to provide industry- leading
service to its extensive customer network. Additional investment
information is available on Royal Group's web site at
http://www.royalgrouptech.com/ under the "Investor Relations"
section. The information in this document contains certain
forward-looking statements with respect to Royal Group Technologies
Limited, its subsidiaries and affiliates. These statements are
often, but not always made through the use of words or phrases such
as "expect", "should ", "continue", "believe", "anticipate",
"suggest", "estimate", "contemplate", "target", "plan", "budget",
"may", "will", "schedule" and "intend" or similar formulations. By
their nature, these forward-looking statements are necessarily
based upon a number of estimates and assumptions that, while
considered reasonable by management, are inherently subject to
significant, known and unknown, business, economic, competitive and
other risks, uncertainties and other factors affecting Royal
specifically or its industry generally that could cause the
Company's actual performance, achievements and financial results to
differ materially from past results and from those expressed in any
forward- looking statements made by or on behalf of the Company.
These risks and uncertainties include the ongoing shareholder value
maximization process and its outcome; the ongoing internal review
and investigations by the Audit Committee of the Board of Directors
and its outcome; the outcome of the ongoing investigations by the
United States Department of Justice, RCMP, OSC and SEC; the outcome
of the discussions with the SEC on the Company's historical
disclosure; the outcome of class action shareholders lawsuits
against the Company filed in the United States and Canada; the
negative impact that may be caused by the delay in filing of Royal
Group's 2005 financial statements, including, without limitation, a
breach by Royal Group of its banking agreement, an adverse effect
on Royal Group's business and the market price of its publicly
traded securities, and a breach by Royal Group of the continued
listing requirements of the New York Stock Exchange and Toronto
Stock Exchange; fluctuations in the level of renovation,
remodelling and construction activity; changes in product costs and
pricing; an inability to achieve or delays in achieving savings
related to cost reductions or increases in revenues related to
sales price increases; the sufficiency of any restructuring
activities, including the potential for higher actual costs to be
incurred in connection with any restructuring activities compared
to the estimated costs of such actions; the ability to recruit and
retain qualified employees; the level of Royal's outstanding debt
and current debt ratings; Royal's ability to maintain adequate
liquidity and refinance its debt structure by December 31, 2006,
the expiry date of its current bank credit facility; the Company's
ability to complete the required processes and provide the internal
control report that will be required under U.S. securities law in
respect of fiscal 2006; the ability to meet the financial covenants
in Royal's credit facilities; changes in Royal's product mix; the
growth rate of the markets into which Royal's products are sold;
market acceptance and demand for Royal's products; changes in
availability or prices for raw materials; pricing pressures
resulting from competition; difficulty in developing and
introducing new products; failure to penetrate new markets
effectively; the effect on foreign operations of currency
fluctuations, tariffs, nationalization, exchange controls,
limitations on foreign investment in local business and other
political, economic and regulatory risks; difficulty in preserving
proprietary technology; adverse resolution of any litigation,
investigations, administrative and regulatory matters, intellectual
property disputes, or similar matters; changes in securities,
environmental or health and safety laws, rules and regulations;
currency risk exposure and other risks described from time to time
in publicly filed disclosure documents and securities commission
reports of Royal Group Technologies Limited and its subsidiaries
and affiliates. In view of these uncertainties we caution readers
not to place undue reliance on these forward-looking statements.
Statements made in this document are made as of April 30, 2006 and
Royal disclaims any intention or obligation to update or revise any
statements made herein, whether as a result of new information,
future events or otherwise. DATASOURCE: Royal Group Technologies
Limited CONTACT: Mark Badger, Vice President of Marketing and
Corporate Communications, Royal Group Technologies Limited, Phone:
(905) 264-0701
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