Ceramic Industry News

Coorstek Updates Fourth Quarter 2002 Guidance

January 13, 2003
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CoorsTek, Inc. recently updated its previously issued expectations for fourth quarter results. Specifically, the company is now projecting revenue in the range of $79 million to $82 million, or approximately 18 to 21% below third quarter 2002 revenue, with a gross margin of approximately 12 to 13%. The decline in projected revenue is primarily attributable to greater than anticipated weakness in CoorsTek's semiconductor capital equipment component and assembly segments. As indicated in the company's prior guidance, R&D for the fourth quarter is expected to be approximately 3.0% of sales. CoorsTek now anticipates that SG&A as a percentage of sales will be in the range of 16 to 17%. Included in the SG&A figure is approximately $1.75 million that the company expects to incur during the fourth quarter related to its recently executed merger agreement with Keystone Holdings. Also, depending on year-end pension plan asset values, CoorsTek may be required to record an additional minimum pension liability of $18 million to $22 million.

For more information, visit http://www.coorstek.com .

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