KMG America Corporation Announces Preliminary 2005 and January 2006 Sales Results
10 Janeiro 2006 - 7:42PM
Business Wire
KMG America Corporation (KMA) is announcing its preliminary 2005
and January 2006 sales results for its new large case business. As
of today, KMA estimates that combined 2005 and January 2006 sales
will be slightly under $30 million, which is below the recent
target of $35 million. Final sales results along with a margin
analysis will be included in KMA's fourth quarter 2005 conference
call. Kenneth Kuk, KMA's Chief Executive Officer, commenting on the
estimated results, said, "Missing any objective cannot be viewed
positively. However, KMA's sales objectives were highly subjective
with no year over year comparisons. Additionally, our product menu
was very limited during the prime fourth quarter selling season.
This is a problem that is being resolved and we are now in a
position to begin executing our multiple product strategy. I
believe the level of new premium production we have generated
confirms that KMA is recognized and accepted as a strong
participant in the market place. It also demonstrates the strength
of our sales organization." Mr. Kuk added, "Of the 20 sales
representatives hired by KMA in 2005, 15 were productive, which is
impressive since 5 of the 20 were not hired until after September
1, 2005. Productivity per sales representatives results appear to
be consistent with expectations." Addressing 2006, Mr. Kuk added
that, "We plan to recruit in early 2006 to bring us to a total of
25 sales representatives. An additional two or three reps may be
added later in the year. We believe we can achieve our sales
objectives with this level of sales staffing." KMA does not give
earnings guidance. However, it expects to include a discussion of
certain key earnings drivers in its fourth quarter 2005 earnings
release conference call in early March. A date for the release has
not yet been set.
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