Reynolds and Reynolds Shareholders Re-Elect Three Board Members at Annual Meeting
15 Junho 2006 - 1:41PM
PR Newswire (US)
President and CEO Fin O'Neill says Reynolds has "opportunity for
sustained, profitable growth" DAYTON, Ohio, June 15
/PRNewswire-FirstCall/ -- The Reynolds and Reynolds Company
(NYSE:REY) today announced that its shareholders re-elected Cleve
Killingsworth; Finbarr O'Neill and Renato Zambonini to the Reynolds
board of directors at the company's annual meeting of shareholders.
The meeting was held at Reynolds' Research Park headquarters in
Dayton, Ohio. Killingsworth is president and chief executive
officer of Blue Cross Blue Shield of Massachusetts. He joined the
Reynolds board in 1997. O'Neill, Reynolds' president and CEO,
joined the board in 2005. Zambonini, who has been a Reynolds
director since 2003, is chairman of the board of Cognos
Incorporated. Shareholders also ratified the re-appointment of
Deloitte & Touche LLP as the company's independent registered
public accounting firm. In his remarks at the meeting, O'Neill said
that the company has obtained new insight into areas where dealers
and department managers are looking for answers through a process
called "dealer-led ideation." "Being market-driven means asking our
customers what they value. We talk to them about the outcomes they
want to achieve -- what they are trying to accomplish -- not simply
the products they use to do their jobs. For us, the important
question is, how can we help them achieve those outcomes?" O'Neill
said that the company's cornerstone for growth is the
REYNOLDSYSTEM(TM), its integrated, dealer-driven approach to
bringing the right set of experienced people, proven practices, and
comprehensive solutions to dealers. "I am convinced, and our market
research shows, that Reynolds has an opportunity for sustained,
profitable growth. The market is clearly underserved in several
areas. Dealers are willing to spend for products and services that
have a demonstrable return on investment," he said. Greg Geswein,
senior vice president and chief financial officer, also addressed
shareholders at the meeting. Geswein reiterated the guidance the
company provided in its June 8 earnings release for the company's
first and second fiscal quarters. The guidance excludes the impact
of any future acquisition (such as the proposed acquisition of DCS
Group PLC announced May 24) or divestiture. For the third quarter
ending June 30, the company expects earnings per diluted Class A
common share to be between $0.39 and $0.42. As announced June 8,
for the 2006 fiscal year (which ends September 30), the company
anticipates: - Revenues will be approximately 2% higher than in
2005 (using GAAP basis comparisons) - Earnings per diluted Class A
common share for the year will be approximately $1.55 to $1.60
(including the benefit of the accounting change related to stock
compensation). - Operating margins will be in the mid teens. - Net
capital expenditures will range from $15 million to $20 million. -
Depreciation and amortization will total approximately $27 million.
- Research and development expenses will range from approximately
$75 million to $80 million. - Its tax rate will be approximately
40%. Cautionary Notice Regarding Forward-Looking Statements Certain
statements contain forward-looking statements, including statements
relating to results of operations. These forward-looking statements
are based on current expectations, estimates, forecasts and
projections of future company or industry performance based on
management's judgment, beliefs, current trends and market
conditions. Actual outcomes and results may differ materially from
what is expressed, forecasted or implied in any forward-looking
statement. Forward-looking statements made by the company may be
identified by the use of words such as "will," "expects,"
"intends," "plans," "anticipates," "believes," "seeks,"
"estimates," and similar expressions. Forward-looking statements
are not guarantees of future performance and involve certain risks,
uncertainties and assumptions which are difficult to predict,
including the following: the timing of the initiation, progress or
cancellation of significant contracts or arrangements, the mix and
timing of services sold in a particular period; competitive
factors; the inability to attract sufficient customers in new
markets; general economic and business conditions. These and other
factors that could cause actual results to differ materially from
those expressed or implied are discussed under "Risk Factors" in
the Business section of our most recent annual report on Form 10-K
and other filings with the Securities and Exchange Commission. The
company undertakes no obligation to update any forward-looking
statements, whether as a result of new information, future events
or otherwise. About Reynolds Reynolds and Reynolds
(http://www.reyrey.com/) helps automobile dealers sell cars and
take care of customers. Serving dealers since 1927, it is a leading
provider of dealer management systems in the U.S. and Canada. The
Company's award-winning product, service and training solutions
include a full range of retail Web and Customer Relationship
Management solutions, e-learning and consulting services,
documents, data management and integration, networking and support
and leasing services. Reynolds serves automotive retailers and OEMs
globally through its incadea solution and a worldwide partner
network, as well as through its consulting practice. DATASOURCE:
The Reynolds and Reynolds Company CONTACT: Media, Mark Feighery,
+1-937-485-8107, or , or Investors, John E. Shave, +1-937-485-1633,
or , both of The Reynolds and Reynolds Company Web site:
http://www.reyrey.com/
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