QUINCY, Ill., Oct. 8 /PRNewswire/ -- In light of the unusual market
activity in its common stock, Gardner Denver, Inc. (NYSE: GDI) has provided a
preliminary indication that it expects diluted earnings per share for the
three month period ended Sept. 30, 1998 to significantly exceed the $0.44
reported a year ago. Consistent with the Company's expectations, third
quarter earnings per share are anticipated to be moderately less that the
$0.55 reported for the three month period ended June 30, 1998, primarily as a
result of the planned relocation of its centrifugal blower manufacturing
facility from Syracuse, N.Y. to Peachtree City, Ga. Management currently
expects the fourth quarter earnings per share, which will include an annual
adjustment for LIFO inventory reductions, to exceed the earnings per share for
both the third quarter of 1998 and the fourth quarter of 1997. Full financial
results for the third quarter will be released on Oct. 21, 1998.
All of the statements in this release, other than historical facts, are
forward-looking statements made in reliance upon the safe harbor of the
Private Securities Litigation Reform Act of 1995. Such forward-looking
statements are subject to uncertainties and factors relating to the Company's
operations and business environment, all of which are difficult to predict and
many of which are beyond the control of the Company, that could cause actual
results of the Company to differ materially from those matters expressed in or
implied by such forward-looking statements.
Gardner Denver, with 1997 revenues of $292 million, is a leading
manufacturer of air compressor and blower products for various industrial
applications and pumps used in oil and gas production, and well servicing,
drilling and stimulation. Gardner Denver's news releases are available by fax
by calling 800-758-5804, ext. 303875, or by visiting the Company's home page
on the Internet (http://www.gardnerdenver.com).
SOURCE Gardner Denver Inc.
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Related links:
http://www.gardnerdenver.com
Company News On-Call:
http://www.prnewswire.com/comp/303875. html or fax,
800-758-5804, ext. 303875
CONTACT:
Helen W. Cornell, Vice President, Corporate
Secretary and Treasurer of Gardner Denver, Inc., 217-228-8209
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