TIDMSOM 
 
RNS Number : 2736M 
Somero Enterprises Inc. 
27 January 2009 
 

 
 
 
 
January 27, 2009 
Somero Enterprises, Inc 
("Somero" or "the Group") 
 
 
Period End Trading Update 
 
 
The Board of Somero Enterprises, Inc , the North American manufacturer of 
patented laser guided equipment used for the spreading and leveling of high 
volumes of concrete for floors in the construction industry, is pleased to 
confirm that revenues and earnings for the year to 31 December 2008, which 
included significant restructuring charges, were in line with its expectations. 
 
 
The credit crisis has slowed sales in most countries where Somero does business 
with the exception of China and the Middle East, which exceeded expectations and 
continue to offer opportunities for growth. 
 
 
The major cost reduction programme implemented by the Group in 2008 has been 
very effective and will, in aggregate, result in a reduction in SG&A expenses of 
c.42% for 2009, significantly ahead of the 30% reduction announced in November 
2008.  The Group's balance sheet remains strong, with a reduced year end net 
debt level of under $10m. 
 
 
Jack Cooney, CEO of Somero commented: 
 
 
"The effect on construction activity of the sudden and extensive worldwide 
shutdown of the credit markets was mitigated by the swift action taken in 
November to further reduce costs. We recognised the impact on our customers very 
early in the process and have made significant reductions to our cost structure 
in the US and Europe. The Group is now at an appropriate size given the current 
market, however, despite major cost reductions, we continue to invest in China 
and the Middle East to take advantage of growth opportunities. 
 
 
"Our ability to move quickly has allowed us to renegotiate our loan agreement to 
provide significant flexibility in the coming years. Despite unprecedented 
times, the management remains confident that the fundamentals of the Group 
remain strong and that the strategies in place combined with the Group's market 
leading position will result in continued long-term growth for Somero." 
 
 
Somero will report full year results in early May 2009. 
 
 
-ends- 
 
 
Enquiries: 
 
 
+--------------------------------------------+----------------------------+ 
| Financial Dynamics                         | +44 (0)20 7831 3113        | 
+--------------------------------------------+----------------------------+ 
| Juliet Clarke / Erwan Gouraud              |                            | 
+--------------------------------------------+----------------------------+ 
|                                            |                            | 
+--------------------------------------------+----------------------------+ 
| Hawkpoint Partners                         | +44 (0)20 7665 4500        | 
+--------------------------------------------+----------------------------+ 
| Christopher Kemball / Chris Robinson       |                            | 
+--------------------------------------------+----------------------------+ 
|                                            |                            | 
+--------------------------------------------+----------------------------+ 
| Collins Stewart                            | +44 (0)20 7523 8000        | 
+--------------------------------------------+----------------------------+ 
| Piers Coombs                               |                            | 
+--------------------------------------------+----------------------------+ 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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