HARRISBURG, Pa. , Dec. 8, 2003 (PRIMEZONE) -- Addressing the financial community in New York City today, Harsco Corporation (NYSE:HSC) Chairman, President and Chief Executive Officer Derek C. Hathaway reaffirmed the Company's confidence in its future growth prospects and international market opportunities, saying that Harsco's focus on industrial services growth around the globe, coupled with previously implemented cost-cutting initiatives and an improving domestic manufacturing environment, will lead to increased earnings in 2004.
Joining Mr. Hathaway in detailing the Company's growth expectations and strategies were Salvatore Fazzolari, Senior Vice President, Chief Financial Officer and Treasurer; Geoffrey Butler, Senior Vice President-Operations and President, Heckett MultiServ International and SGB Group; and Robert Newman, President, Harsco Track Technologies.
Mr. Fazzolari reaffirmed the Company's previously reported guidance for 2004 GAAP earnings from continuing operations of $2.50-$2.65 per diluted share and 2004 revenue growth in the range of 5-6 percent. He further stated the Company's 2005-2007 targets as follows:
Revenues: + 5-6%
EPS: + 10-15%
Operating Margins: 10-11%
Cash Flow from Operations: Over $300 million by 2005
An archived Webcast of the meeting, including presentation slides, can be accessed through the Harsco Corporation website at www.harsco.com.
Forward-Looking Statements
The nature of the Company's business and the many countries in which it operates subject it to changing economic, competitive, regulatory, and technological conditions, risks, and uncertainties. In accordance with the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, the Company provides the following cautionary remarks regarding important factors which, among others, could cause future results to differ materially from the forward-looking statements, expectations and assumptions expressed or implied herein. Forward-looking statements include information about management's confidence and strategies for performance; expectations for new and existing products, technologies, and opportunities; and expectations regarding growth, sales, cash flows, earnings, and EVA. These statements are identified by the use of such terms as "may," "could," "expect," "anticipate," "intend," "believe," or other comparable terms.
Risk factors and uncertainties which could affect results include, but are not limited to: (1) changes in the worldwide business environment in which the Company operates, including general economic conditions; (2) changes in currency exchange rates, interest rates, and capital costs; (3) changes in the performance of stock and bond markets, particularly in the United States and United Kingdom; (4) changes in governmental laws and regulations, including taxes and import tariffs; (5) market and competitive changes, including pricing pressures, market demand, and acceptance for new products, services, and technologies; (6) unforeseen business disruptions in one or more of the over 40 countries in which the Company operates due to political instability, civil disobedience, armed hostilities or other calamities; and (7) other risk factors listed from time to time in the Company's SEC reports. The Company cautions that these factors may not be exhaustive and that many of these factors are beyond the Company's ability to control or predict. Accordingly, forward-looking statements should not be relied upon as a prediction of actual results. The Company undertakes no duty to update forward-looking statements.
Harsco Corporation is a diversified, $2 billion industrial services and engineered products company. Harsco's market-leading businesses provide mill services, access services, gas and fluid control products, and other infrastructure products and services to customers worldwide. The Company employs approximately 17,500 people in more than 40 countries of operation. Additional information about Harsco can be found at www.harsco.com.
The Harsco Corporation logo is available at: http://media.primezone.com/prs/single/?pkgid=361