COPPELL, Texas, Nov. 4, 2011 /PRNewswire/ -- Craftmade
International, Inc. (OTCQX: CRFT) today released supplemental
information related to the recent tender offer by Litex Industries,
Limited and its subsidiary, Litex Acquisition #1, LLC, to purchase
all outstanding Craftmade shares for $4.25 per share. Craftmade's Board of Directors
issued a recommendation letter to shareholders dated October 14, 2011. This information supplements
the information included in that earlier letter. The supplemental
information has been posted on OTCQX.com, and will subsequently be
mailed to all shareholders.
Founded in 1985, Craftmade International, Inc. is engaged in
the design, manufacturing, distribution and marketing of a broad
range of home decor products, including proprietary ceiling fans,
lighting products and outdoor furniture. The Company
distributes its premium products through a network of independent
showrooms and mass retail customers through its headquarters and
distribution facility in Coppell,
Texas and manufacturing plant in Owosso, Michigan. More information about
Craftmade International, Inc. can be found at
www.craftmade.com.
Various statements in this Press Release or incorporated by
reference herein, in future filings with the SEC or OTCQX, in press
releases, and in oral statements made by or with the approval of
authorized personnel constitute "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are based on current expectations
and are indicated by words or phrases such as "may," "will,"
"should," "could," "might," "expects," "plans," "anticipates,"
"believes," "estimates," "projects," "predicts," "forecasts,"
"intends," "potential," "continue," and similar words or phrases
and involve known and unknown risks, uncertainties and other
factors which may cause actual results, performance or achievements
to be materially different from the future results, performance or
achievements expressed in or implied by such forward-looking
statements. These forward-looking statements include
statements or predictions regarding among other items: revenues and
profits; gross margin; customer concentration; customer buying
patterns; sales and marketing expenses; general and administrative
expenses; pricing and cost reduction activities; income tax
provision and effective tax rate; realization of deferred tax
assets; liquidity and sufficiency of existing cash, cash
equivalents, and investments for near-term requirements; purchase
commitments; product development and transitions; competition and
competing technology; outcomes of pending or threatened litigation;
and financial condition and results of operations as a result of
recent accounting pronouncements. These forward-looking
statements are based largely on expectations and judgments and are
subject to a number of risks and uncertainties, many of which are
beyond our control. We undertake no obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
SOURCE Craftmade International, Inc.