Hughes Supply Raises Third Quarter Sales and Earnings Outlook.

Publication: PR Newswire

Bookmark this article Print this article Link to this article Email this article Digg It! Add to del.icio.us RSS

COPYRIGHT 2005 PR Newswire Association LLC

Board of Directors Forms Special Committee to Explore Strategic Alternatives

ORLANDO, Fla., Oct. 31 /PRNewswire-FirstCall/ -- Hughes Supply, Inc. , a leading distributor of construction, repair and maintenance- related products, announced today that due to strong demand across most of its businesses, revenue and earnings for its third quarter ending October 31, 2005 are expected to exceed the Company's previously issued guidance. Revenues for the third quarter of fiscal year 2006 are now expected to be in the range of $1,480 million to $1,495 million, an increase over the previous year of 27% to 28%, driven primarily by higher organic sales growth in all segments, but particularly in the Water and Sewer, Utilities, and Maintenance, Repair and Operations (MRO) businesses. Earnings per diluted share are expected to be $0.66 to $0.68, compared to $0.54 per diluted share in the previous year's third quarter, an increase of 22% to 26%. Previous guidance estimated...

Read the full article for free courtesy of your local library.