HARRISBURG, Pa., Dec. 10, 2004 (PRIMEZONE) -- Addressing the investment community in New York City today, Harsco Corporation (NYSE:HSC) Chairman, President and Chief Executive Officer Derek C. Hathaway is reaffirming the Company's confidence in its future growth prospects and global market opportunities, saying that Harsco's prudent strategies for growing its worldwide industrial services and engineered products businesses, coupled with its strong cash flows, are expected to deliver continued sales and earnings growth in 2005 and beyond.
Joining Mr. Hathaway in detailing the Company's growth expectations and strategies are the senior members of Harsco's global management team, including Salvatore Fazzolari, Senior Vice President, Chief Financial Officer and Treasurer and leaders from each of the Company's core business operations.
Mr. Fazzolari reiterated the Company's expectations for 2004 GAAP earnings from continuing operations of $2.55-2.65 per diluted share. Mr. Fazzolari also reaffirmed the Company's guidance for 2005 GAAP earnings from continuing operations of $3.00-$3.10 per diluted share and 2005 revenue growth in the range of 5-6 percent. He further stated the Company's 2006-2007 targets as follows:
Revenues: + 5% - 6%
EPS: + 15% - 18%
Operating Margins: 10% - 11%
Cash Flow from Operations: 2006 Target $340 million
2007 Target $360 million
An archived webcast of the meeting, including presentation slides, can be accessed through the Harsco Corporation website at http://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.
About Harsco
Harsco Corporation is a diversified, worldwide industrial services and products company with annual sales in excess of $2 billion. Harsco's market-leading businesses provide mill services, access services, gas technologies, and engineered products and services to major customers around the globe. The Company employs 18,000 people at over 400 locations in more than 40 countries of operation. Additional information about Harsco can be found at http://www.harsco.com.
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