Perceptron Announces $0.15 per Share Annual Dividend
Perceptron Announces $0.15 per Share Annual Dividend
PLYMOUTH, MI -- (Marketwired) -- 05/07/13 -- The Board of Directors of Perceptron, Inc. (NASDAQ: PRCP) today declared an annual dividend of $0.15 per share of common stock to be paid on June 27, 2013 to shareholders of record on June 6, 2013.
Richard Marz, Chairman of Perceptron's Board of Directors commented, "Since we paid our special dividend on November 1, 2012, the Board has discussed alternative approaches to providing an on-going, regular program of dividends for our shareholders. We decided that an annual dividend, payable in June each year, represents the best approach for Perceptron and its shareholders. Since we declared our special dividend last fall, Perceptron's share price has outperformed the market and we believe that offering a meaningful dividend will further enhance the overall return to our shareholders. As a Board, we also believe that providing a cash return to investors via an annual dividend helps to express the confidence we have in the future of Perceptron."
Harry Rittenour, President and CEO of Perceptron, added, "We expect to have a profitable year in fiscal year 2013, and with our strong cash position, we felt it was appropriate to provide shareholders with an added return on their investment in Perceptron. As we look to the future, we will continue to balance the desire to provide meaningful returns to our shareholders while pursuing our long-term growth objectives."
Perceptron will issue a press release on its third quarter fiscal year 2013 financial results on Wednesday May 8, 2013 and hold its quarterly earnings call with investors and analysts on Thursday, May 9, 2013 at 10:00 AM EDT. Investors can access the call at:
Conference Call 888 312-3048 (domestic callers) or 719 325-2448 (international callers)
Conference ID 9527386
If you are unable to participate during the live webcast, the call will be digitally rebroadcast for seven days, beginning at 2:00 PM (EDT) on Thursday May 9, 2013.
Rebroadcast 888 203-1112 (domestic callers) or 719 457-0820 (international callers)
A replay of the call will also be available on the Company's website at www.perceptron.com for approximately one year following the call.
About Perceptron(R) Perceptron develops, produces, and sells non-contact measurement and inspection solutions for industrial applications. The Company's products provide solutions for manufacturing process control as well as sensor and software technologies for non-contact measurement, scanning, and inspection applications. Automotive and manufacturing companies throughout the world rely on Perceptron's metrology solutions to help them manage their complex manufacturing processes to improve quality, shorten product launch times and reduce overall manufacturing costs. The Company also offers Value Added Services such as training and customer support services. Headquartered in Plymouth, Michigan, Perceptron has approximately 230 employees worldwide, with operations in the United States, Germany, France, Spain, Brazil, Japan, Singapore, China and India. For more information, please visit www.perceptron.com.
Safe Harbor Statement Certain statements in this press release may be "forward-looking statements" within the meaning of the Securities Exchange Act of 1934, including the Company's expectation as to its future dividend payments, its fiscal year 2013 and future new order bookings, revenue, expenses, income and backlog levels, trends affecting its future revenue levels, the rate of new orders, the timing of revenue and income from new products which we have recently released or have not yet released, and the timing of the introduction of new products. When we use words such as "will," "should," "believes," "expects," "anticipates," "estimates" or similar expressions, we are making forward-looking statements. We claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 for all of our forward-looking statements. While we believe that our forward-looking statements are reasonable, you should not place undue reliance on any such forward-looking statements, which speak only as of the date made. Because these forward-looking statements are based on estimates and assumptions that are subject to significant business, economic and competitive uncertainties, many of which are beyond our control or are subject to change, actual results could be materially different. Factors that might cause such a difference include, without limitation, the risks and uncertainties discussed from time to time in our reports filed with the Securities and Exchange Commission, including those listed in "Item 1A - Risk Factors" of the Company's Annual Report on Form 10-K for fiscal 2012. The Company's Board of Directors may change the Company's dividend policy and dividend amounts at any time, or discontinue the payment of dividends altogether, due to a number of factors, including covenants in the Company's credit agreement requiring the prior approval of dividends by the Company's bank, the Company's levels of available capital, the Company's future operating results, or the determination to use or reserve the Company's cash resources for other purposes. Other factors not currently anticipated by management may also materially and adversely affect our financial condition, liquidity or results of operations. Except as required by applicable law, we do not undertake, and expressly disclaim, any obligation to publicly update or alter our statements whether as a result of new information, events or circumstances occurring after the date of this report or otherwise. The Company's expectations regarding future bookings and revenues are projections developed by the Company based upon information from a number of sources, including, but not limited to, customer data and discussions. These projections are subject to change based upon a wide variety of factors, a number of which are discussed above. Certain of these new orders have been delayed in the past and could be delayed in the future. Because the Company's products are typically integrated into larger systems or lines, the timing of new orders is dependent on the timing of completion of the overall system or line. In addition, because the Company's products have shorter lead times than other components and are required later in the process, orders for the Company's products tend to be issued later in the integration process. A significant portion of the Company's projected revenues and net income depends upon the Company's ability to successfully develop and introduce new products, expand into new geographic markets and successfully negotiate new sales or supply agreements with new customers. Because a significant portion of the Company's revenues are denominated in foreign currencies and are translated for financial reporting purposes into U.S. Dollars, the level of the Company's reported net sales, operating profits and net income are affected by changes in currency exchange rates, principally between the U.S. Dollar and Euro. Currency exchange rates are subject to significant fluctuations, due to a number of factors beyond the control of the Company, including general economic conditions in the United States and other countries. Because the Company's expectations regarding future revenues, order bookings, backlog and operating results are based upon assumptions as to the levels of such currency exchange rates, actual results could differ materially from the Company's expectations.
Contact: Jack Lowry Vice President of Finance and CFO 734-414-6100