Summa Industries Reports Weakness in Sales
May 17 2005 - 8:01AM
PR Newswire (US)
Summa Industries Reports Weakness in Sales TORRANCE, Calif., May 17
/PRNewswire-FirstCall/ -- Summa Industries (NASDAQ:SUMX) reports
that it expects sales and earnings per share for the 3rd quarter,
which ends May 31, 2005, to be substantially lower than the $33.2
million in sales and $.30 in earnings per share for the third
quarter of fiscal 2004, which was an unusually strong quarter. This
expectation is based on a recent material decline in bookings for
sales of the Company's lighting products, which are sold primarily
for use in newly constructed commercial and industrial buildings,
and in continuing difficulty in passing along increases in raw
material prices. Summa Industries 3rd quarter earnings are
scheduled to be released on June 28, 2005. Statements in this news
release which relate to future plans, financial results or
projections, events or performance are forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, and fall under the safe harbor. These forward-looking
statements include, but are not limited to, statements regarding
the expected sales, bookings and earnings of the Company in the
third quarter of fiscal 2005 and thereafter. Actual results could
differ materially from those anticipated in the forward-looking
statements as a result of a number of factors, including, but not
limited to, the failure of sales and earnings to continue to follow
recent trends, failure of the manufacturing economy to stabilize or
recover, and other risks and uncertainties described in detail
under "Risk Factors" in Summa's Annual Report on Form 10-K for the
fiscal year ended August 31, 2004. For further information, contact
James R. Swartwout, (310) 792-7024; fax (310) 792-7079; ; or
http://www.summaindustries.com/. DATASOURCE: Summa Industries
CONTACT: James R. Swartwout of Summa Industries, +1-310-792-7024,
fax +1-310-792-7079, Web site: http://www.summaindustries.com/
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