performance and achieve the Company's 7% organic growth goal. The
acquisition of Epichem is expected to add an additional 2% in growth
for the full year. Currency benefits could add more than 4% to these
growth estimates if currency exchange rates remain at September 30,
-- Management is raising its 2007 diluted EPS forecast by $.05 to a new
range of $2.25 to $2.35 to reflect improved pretax margin
expectations, realized and expected currency benefits and a more
favorable full year tax rate than that used in previous forecasts.
Commenting on third quarter performance and expectations for the full year of 2007, President and CEO Jai Nagarkatti said: "We are very pleased that improved growth this quarter produced quarterly sales in excess of $500 million for the second successive quarter. The key initiatives supporting our customer centric sales focus enabled us to deliver organic sales growth at our targeted 7% level and add another 3% from acquisitions. And, we expect similar performance for the final quarter of 2007. We continued to add new programs to support this sales growth objective while maintaining profit levels. So I'm confident about our ability to deliver both our targeted sales growth and our increased EPS forecast of $2.25 to $2.35 when we report our 2007 results next February. Changes in our management team at the beginning of the quarter brought new energy to these efforts and have sharpened our focus even further. And our previously announced supply chain initiative is well under way. We remain confident about the rest of 2007, 2008 and beyond as we remain focused on achieving the strategic plan objectives we set two years ago."
Nagarkatti continued, "Third quarter achievements and expectations for our five key growth initiatives included:
-- Continuing to
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