Footwear developer Phoenix completes acquisition of Chambers Belt Company
30 Jun '05
3 min read
The Company makes these statements as of today and undertakes no obligation to update this information based on actual results during the period or changes in assumptions or estimates or other changes in the period.
While it is currently expected that these business outlook statements will not be updated prior to the release of the Company's second quarter 2005 earnings announcement, the Company reserves the right to update the outlook for any reason during the quarter, including the occurrence of material events.
As previously announced, Phoenix Footwear's 2005 second quarter results were impacted by a temporary cessation in Department of Defense (DOD) deliveries at its Altama unit, as well as continued softness at its Trotters unit. As a result, the Company expects to report a loss of $0.10 to $0.l5 per diluted share for the second quarter.
For the full year 2005, including the addition of the Chambers Belt Company, the Company expects to report overall revenues of $100 to $110 million and diluted EPS of $0.42 to $0.47. Included in projected EPS is $0.14 per share in amortization charges of acquisition- related intangibles and expenses related to employee stock grants in the Company's 401(k) savings plan.
California based Phoenix Footwear Group Inc is a designer, developer and marketer of a diversified selection of men's and women's dress and casual footwear, outdoor sportswear and travel apparel.
The Company's molection of men's and women's dress and casual footwear, outdoor sportswear and travel apparel.
marketing@alchempro.com
