Span-America’s Consumer Bedding Products Selected for Major Retailer’s Seasonal Promotion
June 09 2015 - 4:15PM
Business Wire
Span-America Medical Systems, Inc. (NASDAQ:SPAN) announced that
it was notified by a major retail customer that the Company has
been selected as a supplier of consumer bedding products for the
retailer’s seasonal promotion in the fall of 2015. The Company
expects that the promotion will be comparable in size to the
promotions in which Span-America participated during the fall
seasons of fiscal years 2012 and 2013. Span-America did not
participate in a seasonal promotion in fiscal year 2014.
“We are pleased that Span-America has been notified that we will
likely be a supplier of consumer bedding products for one of our
customer’s seasonal promotions,” stated Jim Ferguson, President and
Chief Executive Officer of Span-America. “We expect to begin
building inventory for the promotion in our fourth quarter of
fiscal 2015 and to ship the promotional products in October and
November of 2015, which will be in the first quarter of our 2016
fiscal year.
“We are encouraged that our consumer bedding products have been
picked for this promotion and believe it will have a positive
impact on our sales and earnings performance for the first quarter
of fiscal 2016. As with prior sales promotions that we participated
in with this customer, we do not have a written agreement at this
time and cannot give complete assurance that we will be awarded the
business, but we expect to receive a written purchase order by
approximately September 2015 based on past experience,” concluded
Mr. Ferguson.
About Span-America Medical Systems, Inc.
Span-America manufactures and markets a comprehensive selection
of pressure management products for the medical market, including
Geo-Matt®, PressureGuard®, Geo-Mattress®, Custom Care®, Span+Aids®,
Isch-Dish®, Risk Manager® and Selan® products. We also supply
custom foam and packaging products to the consumer
and industrial markets. Through our
wholly-owned subsidiary Span Medical Products Canada Inc., we
manufacture and market the M.C. Healthcare Products
brands of Encore™, Maxxum, Advantage and Rexx bed frames as
well as related case goods, tables and seating products for the
long-term care market. Span-America’s stock is traded on The
NASDAQ Global Market under the symbol “SPAN.” For more
information, visit www.spanamerica.com and
www.mchealthcare.com.
Forward-Looking Statements
We have made forward-looking statements in this release
regarding, among other things, our expectations for future sales
and earnings performance. We wish to caution the reader that these
statements are only predictions. These forward-looking statements
may be generally identified by the use of forward-looking words and
phrases such as “will,” “intends,” “may,” “believes,”
“anticipates,” “should” and “expects,” and are based on the
company’s current expectations or beliefs concerning future events
that involve risks and uncertainties. Actual events or results may
differ materially as a result of risks and uncertainties facing the
company, including: (a) the inability to achieve anticipated sales
growth in the medical and custom products segments, (b) the
possibility of a loss of a key customer or distributor for our
products, (c) risks related to international operations and foreign
currency exchange associated with our Canadian subsidiary, (d) the
possibility of having material uncollectible receivables from one
or more key customers or distributors, (e) the potential for
volatile pricing conditions in the market for polyurethane foam,
(f) raw material cost increases, (g) the possibility that some or
all of our medical products could be determined to be subject to
the 2.3% medical device excise tax imposed by the Affordable Care
Act, (h) the potential for lost sales due to competition from
low-cost foreign imports, (i) changes in relationships with large
customers or key suppliers, (j) uncertainty about whether or not we
will be awarded or continue to be awarded one-time seasonal
promotions with major retailers, which can have a large impact on
annual revenues and earnings, (k) the impact of competitive
products and pricing, (l) government reimbursement changes in
the medical market, (m) FDA and Health Canada regulation of medical
device manufacturing and (n) other risks referenced from time
to time in our Securities and Exchange Commission filings. We
disclaim any obligation to update publicly any forward-looking
statement, whether as a result of new information, future events or
otherwise. We are not responsible for changes made to this document
by wire services or Internet services.
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version on businesswire.com: http://www.businesswire.com/news/home/20150609006546/en/
Span-America Medical Systems, Inc.Jim Ferguson, 864-288-8877,
ext. 6912President and Chief Executive Officer
Span America (NASDAQ:SPAN)
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