Company
Contact:
Karen G. McCulley, Mgr., Corp Comm
Wendy F. Clay, VP, Admin
585-382-3223
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June 10, 2005 |
CPAC, Inc. Announces Dividend
LEICESTER, NY - June 10, 2005 - The Board of Directors of CPAC, Inc. (Nasdaq: CPAK) today declared a quarterly cash dividend in the amount of $0.07 per share, payable on June 28, 2005 to shareholders of record at the close of business on June 22, 2005.
The Company expects to report a loss for the full fiscal year ended March 31, 2005, in the range of $.77 to $.79 per share (approximately $3.7 to $3.9 million). This will include a valuation reserve of approximately $3.1 million against certain deferred tax assets, and an impairment charge of approximately $500,000 against an investment.
These two adjustments, recorded in the fourth quarter, are non-cash charges. The Company is in the process of finalizing year-end audit and financial statement presentations. Final results and full details will be released within two weeks.
About CPAC, Inc.
Established in 1969, CPAC, Inc. (www.cpac.com) manages holdings in two industries. The Fuller Brands segment manufactures commercial, industrial, and household cleaning products, as well as custom brushes and personal care lines. The CPAC Imaging segment develops and markets innovative Imaging chemicals, equipment, and supplies at six business units worldwide. Products are sold under more than 350 registered trademarks. Stock is traded under the symbol: CPAK.
Except for the historical matters contained herein, statements in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements involve risks and uncertainties, which may affect CPAC's business and prospects, including economic, competitive, governmental, technological, and other factors discussed in CPAC's filings with the Securities and Exchange Commission
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