FJC Fedders

Fedders Files Form 10-Q for First Quarter Fiscal 2004; Modifies Interest Expense and Earnings Per Share Calculation LIBERTY CORNER, N.J., May 10 /PRNewswire-FirstCall/ -- Fedders Corporation , a leading global manufacturer of air treatment products, including air conditioners, air cleaners, dehumidifiers and humidifiers, and thermal technology products, today filed its Quarterly Report on Form 10-Q, for its first quarter of fiscal 2004 ended March 31, 2004. The Form 10-Q reflects a modification of the interest expense on the company's new ten-year notes issued March 8, 2004. Interest expense in the quarter was $5.0 million compared to $5.1 million in the prior year quarter. The earnings release for the quarter, dated April 23, 2004, reflected interest expense of $4.0 million. The diluted loss per common share for the period with the corrected interest expense calculation was $0.20 versus $0.18 previously reported. This news release may include forward-looking statements that are covered under the "Safe-Harbor" clause of the Private Securities Litigation Reform Act of 1995. Such statements are based upon current expectations and assumptions. Actual results could differ materially from those currently anticipated as a result of known and unknown risks and uncertainties including, but not limited to, weather and economic, political, market and industry conditions and reliance on key customers. Such factors are described in Fedders' SEC filings, including its most recently filed annual report on Form 10-K. The company disclaims any obligation to update any forward-looking statements to incorporate developments occurring after release of announcement. DATASOURCE: Fedders Corporation CONTACT: Michael Giordano, Fedders Corporation, +1-908-604-8686, Web site: http://www.fedders.com/

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