If the company is successful with the offering, it will have about $60 million in new equity, he said.
Chattem plans to use some of the proceeds from the offering to retire the remaining $38.5 million of bank debt from its purchase of Selsun Blue, Taylor said. The company bought Selsun Blue, a medicated dandruff shampoo, from Abbott Laboratories (ABT, news, msgs) earlier this year for $75 million plus inventories.
After the bank debt is paid, Chattem will have about $20 million in cash remaining from the offering and about $20 million of cash sitting on its balance sheet, Taylor said. The available cash positions Chattem well for potential future acquisitions, he said. Although he declined to be specific, Taylor said there have been some public announcements about companies putting brands on the selling block. It's difficult to say if Chattem will do anything in the near term, he said.
: Beats the Consensus ist Musik in meinen Ohren,
aber ne Kapitalerhöhung ist Mist. Welche Company steigt nach einer Kapitlalerhöhung, da wäre Chattem die grosse Ausnahme. Die sollen Ihr Wachstum aus eigener Kraft finanzieren, nee, nee, nach ner Kapitalerhöhung gings immer bergab. Ob solche Zukäufe über eine Kapitalerhöhung vernünftig sind wage ich zu bezweifeln, mal sehen ob Chattem es besser kann.
: SCSS über 7 Dollar. 550% in 52 Wochen und die
Story ist noch in den Anfängen. Die Quartalszahlen waren glänzend. "better than expected" wird immer mit Kursgewinnen belohnt! Welche Company kann das derzeit von sich sagen.
Select Comfort sees Q3 pro forma net ahead of views (10:38 AM ET) Select Comfort(SCSS: news, chart, profile)is gaining 63 cents, or 10.2 percent, to $6.73, after the Minneapolis bed retailer expects third-quarter pro forma earnings of 9 to 10 cents a share, well above a previous forecast for an equivalent profit of 2 to 5 cents a share. Analysts polled by Thomson First Call are currently looking for earnings of 6 cents a share in the period, on average. The company cited strong sales growth of 33 percent for the better than expected results. Sales are estimated at $85.1 million for the three-month period.
Select Comfort sees Q4 pro forma net above view (12:47 pm ET) Select Comfort (SCSS: news, chart, profile) is adding 60 cents, or 5.6 percent, to $11.40, after the Minneapolis-based bed retailer forecast fourth-quarter pro forma earnings of 14 to 15 cents a share, above its previous outlook for a profit of 10 to 12 cents a share. Sales are pegged at $92.3 million for the period, a jump of 33 percent from last year's equivalent quarter. Looking ahead to 2003, Select Comfort reconfirmed its projection for earnings of 44 to 48 cents a share.
Nach dem 24.12.2002 gabs keine offiziellen News mehr.
24.12.2002: Talk America sees $25.4M gain from notes restructuring (TALK) By Michael Baron Talk America (TALK) expects to record an extraordinary non-cash gain of $25.4 million from the restructuring of its 8 percent convertible notes due 2011. The gain is related to a decrease in future accrued interest, and it will be reflected in a $25.4 million reduction in the company's long-term debt. The restructuring calls for a new maturity date of Sept. 19, 2006, the elimination of the pay-in-kind interest option, and added flexibility for Talk America to purchase subordinated debt and common stock. Shares of the Reston, Va., provider of communications services closed Monday at $5.69.
Aber unter 4 Dollar gibts wohl ne gute Unterstützung, abwarten was die nächsten Tage bringen, im Moment charttechnisches Niemandsland, oder?
Select Comfort Announces Second Quarter Sales Increase of 32 Percent, Updates Second Quarter Earnings Guidance
MINNEAPOLIS, Jul 3, 2003 (BUSINESS WIRE) -- Select Comfort Corporation (Nasdaq: SCSS), the nation's leading bed retailer and creator of the SLEEP NUMBER(R) bed , announced today that net sales for the second quarter ended June 28, 2003 were $102.0 million, a 32 percent increase from $77.3 million for the second quarter of 2002. Same-store sales for the second quarter of fiscal 2003 increased 34 percent on top of a same-store sale increase of 21 percent in the second quarter of 2002.
"We continued to build momentum for our brand, product and stores in the second quarter, and remain confident in Select Comfort's sustainable growth potential," said Bill McLaughlin, president and chief executive officer. "In this challenging economy, we are fortunate to be in the position of investing in growth with new advertising, store openings, store remodels and new product development."
The Company now estimates its second quarter earnings per share will exceed the current consensus estimate of $0.08 per fully diluted share. It is revising earnings guidance upward to $0.11 to $0.12 per fully diluted share for the second quarter of 2003. This compares to pro forma, diluted net income per share in the second quarter of 2002 of $0.05. The Company will provide third quarter, fourth quarter and full-year guidance when it reports second quarter results on July 15, 2003.
The company's earnings under Generally Accepted Accounting Principles (GAAP) for second quarter 2003 are being compared to 2002 earnings on a pro forma, after-tax basis to improve comparability between the periods. GAAP did not allow the company to reduce its earnings for income tax expense in 2002, while 2003 results reflect a reduction in earnings for income taxes. In the second quarter of 2002, pro forma, diluted net income per share was $0.05 and reported earnings per share under GAAP were $0.08. A full reconciliation of the company's pro forma, after-tax earnings for 2002 to treatment under GAAP can be found at the end of this release.
Select Comfort will hold a conference call to discuss its second quarter results on July 15, 2003, at 10:00 a.m. Central Time. A simultaneous webcast of the call will be available in the Investor Relations section of www.selectcomfort.com. A digital replay of the conference call will be accessible beginning at approximately 1:00 p.m. Central Time on July 15, 2003, through 5:00 p.m. Central Time on July 29, 2003. To access the replay, please call 800-642-1687 from anywhere in the U. S. International callers may dial 706-645-9291. The passcode for the replay is 1596403. An archived replay of the conference call may also be accessed after approximately 12:30 p.m. Central Time on July 15, 2003 at www.selectcomfort.com.
Founded in 1987, Select Comfort Corporation is the nation's leading bed retailer (1), holding 26 U.S. issued or pending patents for its personalized sleep products. The company designs, manufactures and markets a line of adjustable-firmness mattresses featuring air-chamber technology, branded the Sleep Number(R) bed, as well as foundations and sleep accessories. Select Comfort's products are sold through its 332 retail stores located nationwide, including 13 leased departments in Bed Bath & Beyond stores; through selected bedding retailers; through its national direct marketing operations; and on the Internet at www.selectcomfort.com.
Statements used in this press release that relate to future plans, events, financial results or performance are forward-looking statements that are subject to certain risks and uncertainties including, among others, such factors as general and industry economic trends, uncertainties arising from war and other global events, consumer confidence, effectiveness of our advertising and promotional efforts, consumer acceptance of our products and sleep technology, industry competition, warranty expenses, our dependence on significant suppliers, and the vulnerability of any suppliers to recessionary pressures, labor negotiations, liquidity concerns or other factors as well as the risk factors listed from time to time in the company's filings with the SEC, including the company's Annual Report on Form 10-K and other periodic reports filed with the SEC.
The company has no obligation to publicly update or revise any of the forward-looking statements that may be in this news release.
(1) Top 25 Bedding Retailers, Furniture Today, May 26, 2003