CLARENCE, N.Y., June 19, 2001 (PRIMEZONE) -- Wilson Greatbatch Technologies, Inc. ("WGT") (NYSE:GB) a leading developer and manufacturer of power sources and components used in pacemakers and other implantable medical devices, today announced that it is raising its previous guidance on estimated revenues and earnings per share ("EPS") for the second quarter of fiscal year 2001.
WGT estimates second quarter revenues will exceed $30 million and is comfortable with the high end of the current research analyst EPS expectations of $0.13. In addition, WGT remains comfortable with the current research analyst consensus estimates for the third and fourth quarter of fiscal year 2001.
WGT also announced today that it will file a registration statement with the Securities and Exchange Commission later this week for a proposed underwritten offering of 6,000,000 shares of its common stock, plus an additional 900,000 shares to cover over-allotments if the underwriters exercise the over-allotment option. WGT will issue 2,000,000 new shares and selling shareholders will sell the remaining 4,000,000 shares and the 900,000 over-allotment shares, if any. The selling shareholders include DLJ Merchant Banking II, L.P. and affiliated entities. Wilson Greatbatch Technologies, Inc. plans to use the proceeds of shares sold by it for general corporate purposes.
The actual sale of the shares is subject to various conditions, including the underwriters' ability to reduce the number of shares to be sold by the selling shareholders in certain circumstances. The proposed offering will be made, if at all, by means of a prospectus.
Wilson Greatbatch Technologies, Inc., with operations in New York, Maryland and Massachusetts, is a leading developer and manufacturer of power sources and other critical components used in implantable medical devices and other technically demanding applications. Additional information about Wilson Greatbatch Technologies, Inc. is available at http://www.greatbatch.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful under the securities laws of any such state or other jurisdiction.
Some of the statements in this press release and other written and oral statements made from time to time by the company and its representatives are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of Securities Exchange Act of 1934, as amended, and involve a number of risks and uncertainties. These statements can be identified by terminology such as "may", "will", "should", "could", "expects", "intends", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are based on the company's current expectations. The company's actual results could differ materially from those stated or implied in such forward-looking statements. Risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements include, among others, dependence upon a limited number of customers, product obsolescence, inability to market current or future products, pricing pressure from customers, reliance on third party suppliers for raw materials, products and subcomponents, fluctuating operating results, inability to maintain high quality standards for our products, challenges to our intellectual property rights, product liability claims, inability to successfully consummate and integrate acquisitions, unsuccessful expansion into new markets, competition, inability to obtain licenses to key technology, regulatory changes or consolidation in the healthcare industry, and other risks and uncertainties described in the company's Annual Report on Form 10-K and other periodic filings with the Securities and Exchange Commission. The company assumes no obligations to update forward-looking information included in this press release to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial conditions or prospects.