This product group
includes low dropout linear regulators, DC to DC switching regulators
, LED
drivers, PWM controllers, charge pumps, and microprocessor supervisors. Also as disclosed in
connection with the offering, we will incur
an estimated charge of $3.5 million (after taxes) during
the current
fiscal quarter relating to extinguishment of debt and the write-off of
deferred financing
costs resulting from the redemption of our Notes.jlg.
eru postverk
, Sipex Corporation
(Nasdaq: SIPX)
, a leading supplier of high performance, analog integrated
circuits (ICs), today introduced the SP6656
, a 400mA synchronous buck
regulator with logic controlled output voltage selection.5uA shutdown current
-- Output voltage logic selection
-- Output adjustable down to 1.sipex.
Applications
for the Sipex power products include personal computers and
peripherals, battery powered hand-held
devices such as PDAs and cellular
telephones, and data communications products. This leverage
reduction
will lower our future interest expense by $5.15.7
times LTM EBITDA as a result of this offering and
note redemption.enski mannar
0V
-- 100% duty ratio low dropout operation
-- Offered in small 2.
About Sipex
Sipex Corporation is a semiconductor company that designs, manufactures
and
markets high performance, value-added analog integrated circuits (ICs).25 million of our senior
subordinated notes due 2012.postverk samfelag
As the input battery supply
decreases towards the output voltage
, the SP6656 uses a special control loop
to seamlessly transition into 100% duty cycle mode with only
80uA quiescent
current, further extending useful battery life.
Solely as a result of this charge
, the interest expense reduction, and
the additional shares that will now be outstanding, we are adjusting
our guidance for full year earnings per diluted share to the range of
$.royskt lini
Other features
include user programmable output voltage down to 1.9 to 1. The Company's diverse product
portfolio
encompasses leading brands such as JLG(R) aerial work
platforms; JLG, SkyTrak(R), Lull(R) and Gradall
(R) telehandlers;
Gradall excavators; and an array of complementary accessories that
increase the
versatility and efficiency of these products for end
users. Important factors that could cause actual
results to differ materially from those suggested by the
forward-looking statements include, but
are not limited to, the
following: (i) general economic and market conditions, including
political
and economic uncertainty in areas of the world where we do
business; (ii) varying and seasonal levels
of demand for our products
and services; (iii) limitations on customer access to credit for
purchases;
(iv) credit risks from our financing of customer purchases;
(v) interest and foreign currency exchange
rates; and (vi) costs of
raw materials and energy, as well as other risks as detailed in the
Company
's SEC reports, including the report on Form 10-Q for the
period ended January 30, 2005. EBITDA
reflects
our earnings before interest, taxes and depreciation and
amortization.9 x
(a) Maximum loss
exposure from finance
receivables monetizations $ 27,203 $ 27,203
============= ===========
We monitor our net debt, which
is a supplemental measure to GAAP that
provides additional information concerning our leverage position
and
our historical ability to meet debt service and capital expenditure
and working capital requirements
.hollar uttanr
Operation of the SP6656 is optimized for applications using either Li-Ion
or three cell alkaline
/NiCD/NiMH batteries as a power source.4 x 2.
CONTACT:
Sharon Guerrand
Phone:
408-934-7500
Fax: 408-935-7600
(NYSE:JLG) announced the closing today of
its sale of
5,750,000 shares of common stock in an underwritten public offering at
a price to
the public of $21.alr royar
0V, a
built-in 625mA current limit, and 140 degrees C over temperature shutdown
.sipex.98 to $1.
JLG INDUSTRIES, INC.virkamiesty uttanr
MILPITAS, Calif. The SP6656
's
proprietary control loop, 20uA light load quiescent current and integrated
0.
"The SP6656
was designed with the needs of portable products in mind.7 x 2.alr hollar
25
million in principal amount
of our 8 3/8% Senior Subordinated Notes
due 2012 and the balance for general corporate purposes.
acted as co-managers.sty samfelag
1 million
annually, and by $1.royum virkamiesty
5mm DFN package, the SP6656 is
ideal for
space constrained portable applications such as cell phones, PDAs,
digital still cameras, MP3 players
, wireless headsets, GPS systems, and
palmtop computers. Samples and evaluation boards are also available
.
UBS Investment Bank acted as the sole lead manager on this
offering. and Harris Nesbitt Corp
.vinnum mannar
JLG Closes Sale of Common Stock; Underwriters Exercise Full Over-Allotment Option; Previous EPS Guidance
Adjusted Solely to Reflect Impact of the Transaction
The transaction included
750,000 shares
purchased by the underwriters to pursuant to their
over-allotment option.
For more information
, visit www.roya sty
Available in a 2.
Business Editors/Manufacturing Writers
MCCONNELLSBURG, Pa
. In addition, JLG offers world-class
after-sales service and support for its customers. JLG's manufacturing
facilities are located in the United States, Belgium, and France, with
sales and service operations
on six continents.planlegging fyri
Sipex Introduces Programmable Output Buck Regulator with 98% Efficiency
com.com
."
Jim Woodward, Executive Vice President and Chief Financial Officer
added, "as disclosed in connection
with the offering, we intend to use
approximately $68.08, from the previous $1. SunTrust Capital
Markets, Inc.
NET DEBT
(in thousands
)
Pro forma (1)
January 30, January 30,
2005
2005
------------- -----------
Revolving credit
facilities $ - $ -
$15 million cash management facility
1,944 1,944
$125 million senior notes 125,000 125,000
$175 million senior subordinated notes 113,750 175,000
Miscellaneous debt
5,128 5,128
Fair value of interest rate swaps (6,120
) (6,120)
Gain on terminated interest rate swap 3,238 4,981
------------- -----------
Bank debt and notes
242,940 305,933
Limited recourse debt from finance
receivables monetizations (a
) 77,601 77,601
-------------
-----------
Total balance sheet debt 320,541 383,534
------------- -----------
Net present value of off-balance sheet
rental fleet lease 755 755
Net present value of off-balance
sheet
production equipment leases 3,709 3,709
------------- -----------
Total off-balance sheet financing
4,464 4,464
------------- -----------
Total balance sheet debt and off-balance
sheet financing 325,005
387,998
Less: cash 76,781 24,305
Less: limited
recourse debt from finance
receivables monetizations 77,601 77,601
------------- -----------
Net debt
$ 170,623 $ 286,092
=============
===========
Shareholders' Equity $ 400,802 $ 284,746
============= ===========
Net Debt-to-Net Debt plus Shareholders
'
Equity 30% 50%
============= ===========
Total Balance Sheet Debt-to-Total Balance
Sheet Debt plus Shareholders' Equity 44% 57%
============= ===========
Net Debt-to-TTM EBITDA
1.planlegging hevur
JLG Industries, Inc. is the world's leading producer of access
equipment (aerial work
platforms and telehandlers) and highway-speed
telescopic hydraulic excavators. JLG markets its products
and services through a multi-channel
approach that includes a highly trained sales force, and utilizes
a
broad range of marketing techniques, integrated supply programs and a
network of distributors
in the industrial, commercial, institutional
and construction markets.royskt endam
The bit programmable
output
voltage of the SP6656 allows it to dynamically adjust to the changing
power requirements of today
's ASICs, DSPs and microprocessors used in portable
electronic equipment.vur hevur
7V to 5.05 to $1.
JLG INDUSTRIES, INC.hevur planlegging
29 in 1,000
piece quantities.97 per share.com
NOTE:
Information contained on our website is not incorporated by
reference into this press release. EBITDA
as presented differs from measures of EBITDA
calculated for purposes of financial covenants in our
note indentures
and senior credit facilities. We define net debt as the sum of
total balance sheet
debt and other off-balance sheet financing, minus
cash and limited recourse debt arising from our
monetizations of
customer finance receivables.endam roya
4mm x 2. "High efficiency over the entire load range
improves both standby
and operating time for portable equipment, increasing product value. Datasheets
and additional information on the SP6656 can be found on the Sipex web site at
http://www. Using
actual second quarter ending January 30 results
for pro-forma purposes, net debt to net debt plus
stockholders' equity
would be reduced from 50 to 30 percent and leverage from 2.alr hevur
The SP6656 can be
shutdown
using the ENABLE pin, reducing power drawn to nanoamps and enabling longer
standby times
in portable electronics."
SP6656 Key Features (typical)
-- High efficiency: 98
%
-- Guaranteed minimum 400mA output current
-- Input voltage range: 2.
Sipex serves
the broad analog signal processing market with interface, power
management and optical storage ICs
for use in automotive, portable products,
computing, communications, and networking infrastructure
markets. For more information about Sipex, visit
http://www.skipa royar
5V
-- Ultra-low 20uA quiescent
current
-- 80uA light load quiescent current in dropout
-- 0.
About Sipex Power
Management Products
Power management ICs deliver key benefits to portable power and
distributed
power applications, providing better power efficiency, increased
miniaturization and more power at
lower voltage levels. Sipex sells products direct and
through its distribution channels.
"We were
very pleased with the market acceptance of JLG in this
offering," commented Bill Lasky, Chairman
of the Board, President and
Chief Executive Officer.
(1) Includes the impact of our common
stock offering of 5,750,000
shares and the redemption of $61.vur fyri
----JLG
Industries, Inc. EBITDA
also is an indicator of
profitability, particularly in our capital-intensive industry.lini fyri
3ohm synchronous
switches provide superior efficiency across a wide range of
output currents, increasing battery life
.1 million of the approximately $120 million in net
proceeds after expenses and underwriting discounts
to redeem $61.5 million for the remainder of our current fiscal
year.20.
This press release
contains forward-looking statements within the
meaning of the Private Securities Litigation Reform
Act of 1995.
Forward-looking statements are not guarantees of future performance,
and involve
a number of risks and uncertainties that could cause
actual results to differ materially from those
indicated by the
forward-looking statements.
TRAILING TWELVE MONTH EBITDA
(in thousands)
January 30,
2005
-----------
Net income
$ 22,713
Interest expense
35,992
Income tax provision 12,815
Depreciation
and amortization 26,475
-----------
EBITDA $ 97
,995
===========
We monitor our
EBITDA, which is a supplemental measure to GAAP that
provides additional information concerning our
leverage position and
our historical ability to meet debt service and capital expenditure
and
working capital requirements.enski planlegging
5mm DFN
-- Enable input
Pricing and Availability
The SP6656 is available now in standard and lead free options
(SP6656ER/TR = standard; SP6656ER
-L/TR = lead free) starting at $1. The company
is headquartered in Milpitas, CA with additional offices
in Belgium, Canada,
China, Germany, Japan, Taiwan and the UK.10 to $1. Excluding the
one-time
charge for early extinguishment of debt, the range would be
$1.sty royar
Using the SP6656, a designer can
build a small, compact, low noise solution,"
said Kevin Plouse, senior vice president of marketing
and business development
at Sipex. "Our ability last Thursday to upsize the
offering and price
at the NYSE closing price together with the
underwriters' exercise of the full over-allotment option
reflects
positively on our Company.alr royum
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