Attached files
EXHIBIT
99.1
ADDITIONAL
EXHIBITS
Forward-Looking
Statements
Written
and oral statements provided by the Company from time to time, including in the
Company’s annual report to shareholders and its annual report on Form 10-K and
other filings under the Securities Exchange Act of 1934, may contain certain
forward-looking information, such as statements about the Company’s financial
goals, acquisition strategies, financial expectations including anticipated
revenue or expense levels, business prospects, market positioning, product
development, manufacturing re-alignment, capital expenditures, tax benefits and
expenses, and the effect of contingencies or changes in accounting
policies. Forward-looking statements are typically identified by
words or phrases such as “believe,” “expect,” “anticipate,” “intend,”
“estimate,” “may increase,” “may fluctuate,” “plan,” “goal,” “target,”
“strategy,” and similar expressions or future or conditional verbs such as
“may,” “will,” “should,” “would,” and “could.” While the Company
believes that the assumptions underlying such forward-looking statements are
reasonable based on present conditions, forward-looking statements made by the
Company involve risks and uncertainties and are not guarantees of future
performance. Actual results may differ materially from those in the Company’s
written or oral forward-looking statements as a result of various factors,
including, but not limited to, the following:
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The
Company’s success in its ongoing evaluation and implementation of its
business strategies, especially its success in managing the expense and
integration, valuation and other risks of its acquisition strategy and
divestitures.
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Continued
or increased competitive pressures that affect sales volume, pricing and
profitability.
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Increased
competition due to industry consolidation or new entrants into the
Company’s existing markets.
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The
recovery and future health of the U.S. and international economies
currently in recession and other economic factors that directly or
indirectly affect the demand for the Company’s products, including the
effect of economic conditions on housing starts in the United States and
on the availability and terms of
financing.
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Increases
in the cost of raw material, components, other materials, transportation
or other services which the Company is unable to pass on to customers or
which impact demand for the Company’s
products.
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The
effects of and changes in, trade, monetary and fiscal policies, laws and
regulations and other activities of governments, agencies and similar
organizations across the many countries and regions where the Company
manufacturers or sells its products, including trade restrictions,
inflation, currency fluctuations, import and other charges or taxes,
nationalizations and unstable
governments.
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The
Company’s success in implementing its strategy of concentrating production
in low cost locations.
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The
Company’s ability to anticipate changing customer requirements, fund and
accomplish product innovation, improve processes, and attract and retain
capable staff in order to deal with increasing volume and complexity in
its products.
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Difficulties
or delays in the development, production, testing and marketing of
products, including a failure to ship new products when anticipated,
failure of customers to accept these products when planned, any defects in
products or a failure of manufacturing economies to develop when
planned.
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The
costs and other effects of administrative, civil or criminal proceedings,
settlements and investigations, claims, developments or assertions by or
against the Company, including those relating to intellectual property
rights and licenses, alleged defects in products and non-compliance with
governmental regulations.
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The
introduction of alternative products or governmental and regulatory
activities that favor alternative methods of serving the same function as
the Company’s products, such as the extension of municipal water
systems.
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The
effect of environmental legislation and regulation on the Company’s
products and sales.
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Company’s
success in reducing or controlling growth in selling, general and
administrative expenses.
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The
Company’s ability to manage the life cycle of its products, reduce product
costs and other costs and increase
productivity.
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Events
such as fires, floods, or other natural disasters and weather conditions
impacting the Company’s ability to produce products or the demand for its
products.
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A
prolonged disruption of scheduled deliveries from suppliers when
alternative sources of raw material and components are not
available.
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Labor
strikes or work stoppages by employees of the Company, its customers,
suppliers, or freight contractors or other
providers.
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The
adoption of new, or changes in, accounting policies and
practices.
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Some of
these and other risks and uncertainties that may affect future results are
discussed in more detail in “Item 1A – Risk Factors,” “Item 7A – Quantitative
and Qualitative Disclosures About Market Risk,” and Note 18, “Contingencies and
Commitments” included in Item 8 of this Annual Report on Form
10-K. All forward-looking statements included herein are based upon
information presently available, and the Company assumes no obligation to update
any forward-looking statements.