BRYAN, Texas, April 2 /PRNewswire/ -- Neutral Posture Ergonomics, Inc.
(Nasdaq: NTRL) today reported that it anticipates its revenues and earnings
for its third quarter ended March 31, 1999, to be lower then its previous
expectations. The Company noted that it experienced order entry weakness in
January and February which will adversely impact its third quarter results.
The Company expects its third quarter revenues to be between $3.4 to
$3.5 million. Although this revenue estimate is below Company expectations,
it represents an increase of approximately $700,000 or 26% as compared to the
third quarter in fiscal year 1998. This increase is primarily the result of
the acquisition of the Harvard chair lines in March, 1998.
Rebecca Boenigk, Chairman and Chief Executive Officer, commented, "We
believe that the recent weakness we have experienced in order entry reflects a
general slowdown in the furniture industry over the past several months.
While certain major competitors have reported sales decreases, the Company
expects to report a 26% increase over the third quarter of fiscal 1998. While
we are disappointed with this recent slowdown, we continue to be optimistic
about the growth potential of the Company.
"We continue to focus our efforts on additional improvements to, and
expansion of, our product lines as well as increasing our sales, marketing and
engineering efforts. We remain committed to providing quality products and
services which will enable the Company to continue to grow and create value
for our shareholders."
Neutral Posture Ergonomics, Inc. manufactures, markets and distributes
office, multi-task and ergonomic seating. Neutral Posture Ergonomics, Inc. is
a certified Women Business Enterprise and its common stock is listed on the
Nasdaq National Market under the symbol NTRL.
PRESS CONTACT:
David Campbell, President
409-778-0502
This press release may include certain statements that may be deemed to be
"forward-looking" within the meaning of the Securities Act of 1933, as
amended, and the Securities Exchange Act of 1934, as amended. There are
certain important factors which could cause actual results to differ
materially from those anticipated by the forward-looking statements. Certain
of the important factors which could cause actual results to differ materially
from those in the forward-looking statements include, among other things,
changes from anticipated levels of sales, the ability to integrate acquired
product lines and related businesses, future national or regional economic and
competitive conditions, changes in relationships with customers, customer
acceptance of existing and new products, pricing pressures due to excess
capacity, raw material cost increases, change of tax rates, change of interest
rates, declining conditions in the industry, validity of patents, availability
of key component parts, casualty to or other disruption of the Company's
production facility and equipment, delays and disruptions in the shipment of
the Company's products and other factors that generally affect business.
SOURCE Neutral Posture Ergonomics, Inc.
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Related links:
http://www.neutralposture.com
Company News On-Call:
http://www.prnewswire.com/comp/125652.html or fax,
800-758-5804, ext. 125652
CONTACT:
David Campbell, President of Neutral Posture
Ergonomics, Inc., 409-778-0502
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