HARRISBURG, Pa., Dec. 9, 2005 (PRIMEZONE) -- Addressing the investment community in New York City, Harsco Corporation (NYSE:HSC) Chairman, President and Chief Executive Officer Derek C. Hathaway today reaffirmed the Company's confidence in its outlook for continued growth, saying that Harsco's worldwide operating balance is providing added predictability and consistency to the Company's improving results.
Joining Mr. Hathaway in detailing the Company's growth expectations and strategies are Salvatore Fazzolari, Senior Vice President, Chief Financial Officer and Treasurer and Geoffrey Butler, Senior Vice President -- Operations.
Mr. Fazzolari reiterated the Company's expectations for 2005 earnings from continuing operations of $3.27 -- $3.32 per diluted share. Mr. Fazzolari also presented the Company's initial guidance for 2006 earnings from continuing operations of $3.75 -- $3.85 per diluted share, an increase of approximately 13 -- 16 percent over 2005, and its outlook for an additional 12 -- 15 percent increase in earnings from continuing operations in 2007. Expectations for revenue growth for 2006 and 2007 are in the range of 6 -- 10 percent. The earnings and revenue expectations for both years reflect the anticipated benefits of the Company's continued growth investments, including potential bolt-on acquisitions.
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 45 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 $2.5 billion. The Company's four market-leading business groups provide mill services, access services, engineered products and services, and gas containment and control technologies to customers around the globe. Harsco's employment totals more than 19,000 people in over 45 countries of operation. Additional information about Harsco can be found at http://www.harsco.com.
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