| Summary
Lighting
Components and Design, Inc. announced impressive financial results,
improved costs and productivity for the year just ended.
"Our
aggressive proactive management approach yielded outstanding financial
results in 2001. It was a year during which LC&D improved its margins,
profits, costs structure, production facilities, productivity and balance
sheet, in spite of the tragic events of 9-11 and an economy that teetered
on recession," said David Dickler, the company's Chief Financial
Officer.
"Already,
in the first two months of 2002, we have seen signs that sales may grow
by 15 to 25% for the full year, due to new business now on the books
and/or in process. NEBT (Net Earnings Before Taxes) should similarly
grow to near-record levels (or better)."
"While
forecasting is an imprecise art at best, our Business Plan projects
that sales may grow from January through year end, with December 2002
sales at a "going rate" 30 to 40% above the "recession"
levels of last year. Barring any deepening of the recession, LC&D
may be reasonably expected to close the year with record sales, margins
and profits."
This privately
held company has been profitable "since day one" with impressive
long term annual growth supported by alliances with America's leading
financial institutions: Bank of American, First International Bank (a
subsidiary of UPS Capital), and the Export-Import Bank of the United
States.
Complete
Story
Lighting
Components and Design, Inc. announced impressive financial results,
improved costs and productivity for the year just ended. This privately
held company has been profitable "since day one" with impressive
long term annual growth supported by alliances with America's leading
financial institutions.
"Our
aggressive proactive management approach yielded outstanding financial
results in 2001. It was a year during which LC&D improved its margins,
profits, costs structure and balance sheet, in spite of the tragic events
of 9-11 and an economy that teetered on recession," said David
Dickler, the company's Chief Financial Officer.
"Already,
in the first month of 2002, we have seen signs that sales may grow by
15 to 25% for the full year, due to new business now on the books and/or
in process. NEBT (Net Earning Before Taxes) should similarly grow to
near-record levels (or better)."
"While
forecasting is an imprecise art at best, our Business Plan projects
that sales may grow from January through year end, with December 2002
sales at a "going rate" 30 to 40% above the "recession"
levels of last year. Barring any deepening of the recession, LC&D
may be reasonably expected to close the year with record sales, margins
and profits."
"Because
we were alert to trends in the marketplace, in our customer set and
in the economy as a whole, LC&D was able to act in advance of the
general economic problems besetting our country. By being 'ahead of
the curve' we were able to achieve these quantifiable results:
- 2001's
Productivity is 24% better than 2000; 2002's year to date Productivity
is 22% better than 2001 and 50% better than 2000.
- 2001's
Gross Profit Margin is 2+% points better than 2000 due to improved
productivity and "across the board" cost controls.
- Cash
is at the highest levels it's ever been.
- Current
liabilities are $20% better.
- Capital
Spending is 70% better (down).
- Total
Capital (retained earnings and paid in capital) grew almost 15%.
About
Lighting Components and Design, Inc.
For further information about LC&D: who we are, what we do, company history, ISO/TS 16949:2002, recent developments, etc.,
click here.
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