Exhibit 99.2
[LOGO]
Investor Contact: Media Contact:
Jim Hurley/Chief Financial Officer Anna Cordasco/Stephanie
ROHN Industries, Inc. Pillersdorf/Tracy Greenberger
309-633-6834 Citigate Sard Verbinnen
212-687-8080
ROHN EXPECTS TO EXCEED CONSENSUS ANALYST ESTIMATES FOR EPS
IN THIRD QUARTER 2000 AND FULL YEAR 2000 AND 2001
BOARD AUTHORIZES EXPANSION OF ENCLOSURE DIVISION
COMPANY AWARDED EQUIPMENT ENCLOSURE CONTRACT BY PFNET
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PEORIA, IL, SEPTEMBER 18, 2000 - ROHN Industries, Inc. (NASDAQ: ROHN),
a leading provider of infrastructure equipment for the telecommunications
industry, announced today that it expects to exceed consensus analyst
estimates for earnings per share (EPS) for the third quarter ending
September 30, 2000, the full year ending December 31, 2000, and the full
year ending December 31, 2001. According to the Nasdaq Online Survey,
current analyst consensus estimates are $0.09 per share for the third
quarter 2000, $0.35 per share for the full year 2000, and $0.45 per share
for the full year 2001.
The Company expects third quarter 2000 EPS to be $0.10 to $0.11.
ROHN's third quarter EPS estimate does not include a one-time non-cash
non-operational tax benefit of $0.05 per share, which will be recognized
this quarter. For the year ending December 31, 2000, ROHN expects EPS to be
in the range of $0.35 to $0.38 (exclusive of the one-time non-cash
non-operational tax benefit of $0.05 per share). ROHN also expects EPS to
be in the range of $0.47 to $0.52 for full year 2001. This improved outlook
is driven primarily by four key factors: continued production efficiencies,
booked business at record levels, the expansion of the Company's design and
construction services and enhanced international operations.
ROHN's Board of Directors also announced that it has approved a $13
million investment to expand the Company's enclosure division in Casa
Grande, Arizona, just south of Phoenix. Earlier this year, ROHN's Board of
Directors appropriated $8.5 million toward the construction of this new
facility to further increase the enclosure division's current capacity and
support the nationwide build-out in the fiber-optic and wireless
industries. Michael E. Levine, Chairman of the Board, said, "The Board
remains as committed as ever to maximizing shareholder value, and we are
extremely pleased with the Company's recent performance. We continue to be
enthusiastic about investing in promising opportunities as they emerge at
ROHN."
In addition, ROHN was recently awarded a new contract by PFNet, a
leading provider of fiber-optic communications infrastructure to
communications carriers, Internet service providers (ISPs) and
corporations, to provide and install equipment enclosures for the buildout
of a nationwide fiber-optic network. The agreement, which is initially
valued at $18 million, calls for several hundred units to be constructed
over the next year, representing one of the division's largest contracts to
date.
"We are extremely encouraged by our strong performance," said Brian B.
Pemberton, President and Chief Executive Officer, ROHN Industries. "Sales
and operating earnings per share growth for the first half of 2000
increased 78% and 175%, respectively, over the same period in 1999, with
record sales posted in the second quarter of 2000. We expect third and
fourth quarter 2000 sales to be comparable to second quarter 2000,
representing an increase of approximately 65% from each period last
year. We also expect to achieve $230 and $300 million in sales for the
full-year 2000 and 2001 periods, respectively."
Pemberton continued, "The Company has been very successful at building
a robust amount of booked business, and has gained a strong foothold in its
global operations. We anticipate international sales will increase from
16% of our total sales in 1999 to 30% by 2003. In addition, ROHN's
enclosure, tower and construction operations continue to perform well and
our improved efficiencies are enabling us to leverage earnings on sales
growth. All of these factors, combined with the significant growth of the
market, provide ROHN with enormous opportunities in the months ahead and
will enable the Company to maintain its position as a leading player in the
wireless and fiber optic telecommunications infrastructure industry."
ROHN Industries, Inc. is a leading manufacturer and installer of
telecommunications infrastructure equipment for the wireless and fiber
optic industry including cellular, PCS, fiber optic networks for the
Internet, radio and television broadcast markets. The Company's products
and services include towers, equipment enclosures/shelters, design and
construction, cabinets, poles and antennae mounts. ROHN has manufacturing
locations in Peoria, Illinois; Frankfort, Indiana; and Bessemer, Alabama.
The Company will hold a conference call at 3:00 p.m. Central (4:00
EST) this afternoon to discuss the contents of this release with members of
the investment community. If you would like to listen to this call, please
dial 800-288-8961 (International 612-332-0530). A replay of this call will
be available from 6:30 p.m. (Central) on September 18, 2000 through 11:59
p.m. (Central) on September 19, 2000. To listen to the replay, dial
800-475-6701 (International 320-365-3844) and enter access code 539214.
Safe Harbor under the Private Litigation Reform Act of 1995: This press
release includes forward looking statements including earnings and revenue
projections for 2000 and beyond, which statements reflect the Company's
current judgment on certain matters. These forward looking statements are
subject to risks and uncertainties. Actual results might differ materially
from those projected in the forward looking statements. Additional
information concerning factors that could cause actual results to
materially differ from those in the forward looking statements is contained
in the Company's filings with the Securities and Exchange Commission,
including Exhibit 99 to the company's Form 10-K.
