» 5/7/2008
POOL CORPORATION INCREASES QUARTERLY DIVIDEND,HOLDS 2008 ANNUAL MEETING OF SHAREHOLDERS
COVINGTON, LA. (May 7, 2008) – Pool Corporation (the "Company" or "POOL") (NASDAQ/GSM:POOL) announced that its Board of Directors increased its regular quarterly cash dividend to $0.13 per share, an 8% increase over the most recent quarterly cash dividend of $0.12 per share. The dividend is payable on June 2, 2008 to stockholders of record on May 19, 2008. On May 2, 2008 there were 47,814,617 shares of common stock outstanding. Speaking at POOL's annual meeting of shareholders, Wilson B. (Rusty) Sexton, Chairman of the Board, said that the shareholders elected Andrew W. Code, James J. Gaffney, George T. Haymaker, Manuel J. Perez de la Mesa, Harlan F. Seymour, Robert C. Sledd, John E. Stokely and himself to serve as directors for the ensuing year. Shareholders also ratified the appointment of Ernst & Young LLP as the Company's independent auditors for fiscal 2008. Mr. Sexton stated, "In today's challenging environment, our responsibilities to our shareholders are greater than ever and we appreciate the confidence they have shown in us. Our Board is truly dedicated to fulfilling these responsibilities and we look forward to the opportunity to serve over the coming year". Pool Corporation is the largest wholesale distributor of swimming pool and related backyard products. Currently, POOL operates over 290 sales centers in North America and Europe, through which it distributes more than 100,000 national brand and private label products to roughly 70,000 wholesale customers. For more information about POOL, please visit www.poolcorp.com. This news release includes "forward-looking" statements that involve risk and uncertainties that are generally identifiable through the use of words such as "believe," "expect," "intend," "plan," "estimate," "project" and similar expressions and include projections of earnings. The forward‑looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements speak only as of the date of this release, and we undertake no obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur. Actual results may differ materially due to a variety of factors, including the sensitivity of our business to weather conditions, our ability to maintain favorable relationships with suppliers and manufacturers, competition from other leisure product alternatives and mass merchants, changes in the economy and the housing market and other risks detailed in POOL's 2007 Form 10-K and Form 10-Q for the quarter ended March 31, 2008 filed with the Securities and Exchange Commission. CONTACT: Craig K. Hubbard 985.801.5117 craig.hubbard@poolcorp.com COVINGTON, LA. (May 7, 2008) – Pool Corporation (the "Company" or "POOL") (NASDAQ/GSM:POOL) announced that its Board of Directors increased its regular quarterly cash dividend to $0.13 per share, an 8% increase over the most recent quarterly cash dividend of $0.12 per share. The dividend is pa... » 5/7/2008
POOL CORPORATION TO PRESENT AT THE RW BAIRD GROWTH STOCK CONFERENCE
COVINGTON, LA (May 7, 2008) Pool Corporation (the "Company" or "POOL") (NASDAQ/GSM: POOL) announced today that Mark Joslin, Vice President and CFO, will be presenting at the RW Baird Growth Stock Conference being held at the Four Seasons, Chicago, Illinois. Craig Hubbard, Investor Relations Officer, will also be attending the conference. Mr. Joslin is slated to present on May 14, 2008, at 1:20 pm Central. The presentation slides will be posted on POOL's website at that time. Pool Corporation is the largest wholesale distributor of swimming pool and related backyard products. Currently, POOL operates over 290 sales centers in North America and Europe, through which it distributes more than 100,000 national brand and private label products to roughly 70,000 wholesale customers. For more information about POOL, please visit www.poolcorp.com. This news release may include "forward-looking" statements that involve risk and uncertainties. The forward‑looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially due to a variety of factors, including the sensitivity of the swimming pool supply business to weather conditions and other risks detailed in POOL's 2007 Form 10-K and Form 10-Q for the quarter ended March 31, 2008 filed with the Securities and Exchange Commission. CONTACT: Craig K. Hubbard 985.801.5117 craig.hubbard@poolcorp.com COVINGTON, LA (May 7, 2008) Pool Corporation (the "Company" or "POOL") (NASDAQ/GSM: POOL) announced today that Mark Joslin, Vice President and CFO, will be presenting at the RW Baird Growth Stock Conference being held at the Four Seasons, Chicago, Illinois. Craig Hubbard, Investor Relations Officer,... » 4/24/2008
POOL CORPORATION REPORTS FIRST QUARTER RESULTS AND PROVIDES 2008 EARNINGS GUIDANCE
COVINGTON, LA. (April 24, 2008) – Pool Corporation (the "Company" or "POOL") (NASDAQ/GSM: POOL) today reported its results for the first quarter of 2008. "While it is still relatively early in the 2008 season, we are encouraged by our results given the challenging market conditions in our industry. We improved gross margins despite the tough competitive pricing environment and realized further progress in managing expenses through cost control measures. The new pool and irrigation construction markets are facing unprecedented conditions created by the combination of significant declines in the real estate and mortgage-backed financing markets. As a result, our sales were negatively impacted with a more pronounced effect on our irrigation business and complementary product sales. Inclement weather also had an adverse effect on our results for the quarter," commented Manuel Perez de la Mesa, President and CEO. Net sales for the seasonally slow first quarter decreased $35.5 million, or 9%, to $338.2 million, compared to $373.7 million in the first quarter of 2007. Base business sales declined approximately 11% (compared to 4% growth in the first quarter of 2007) on soft demand for pool and irrigation construction products. Complementary product sales continue to be negatively impacted by the decline in new pool construction and decreased 16% compared to the first quarter of 2007. Gross profit for the quarter ended March 31, 2008 decreased $8.1 million, or 8%, to $95.4 million from $103.5 million in the first quarter of 2007. Gross profit as a percentage of net sales (gross margin) improved 50 basis points to 28.2% in the first quarter of 2008 from 27.7% in the first quarter of 2007. Selling and administrative expenses (operating expenses) decreased $1.7 million, or 2%, to $93.2 million in the first quarter of 2008 from $94.9 million in the first quarter of 2007. This decrease is primarily attributable to the impact of cost control initiatives. Total operating expenses as a percentage of net sales increased to 27.5% in the first quarter of 2008 from 25.4% in the same period in 2007 due to the lower top line results. Operating income was $2.2 million in the first quarter of 2008 compared to $8.6 million in the same period in 2007. Operating income as a percentage of net sales (operating margin) decreased to 0.6% from 2.3% in the first quarter of 2007. Interest expense increased 11% during the quarter due to higher average debt levels, which were partially offset by a lower weighted average effective interest rate compared to the first quarter of 2007. Loss per share for the first quarter of 2008 was $0.07 per diluted share on a net loss of $3.2 million, compared to earnings of $0.03 per diluted share on net income of $1.4 million in the same period in 2007. EBITDA (as defined in the addendum) was $5.4 million in the first quarter of 2008 compared to $11.5 million in the first quarter of 2007. On the balance sheet, total net receivables decreased 11% compared to March 31, 2007 due to lower first quarter 2008 sales. Our inventory levels increased 15% to $476.8 million at March 31, 2008. This increase reflects higher inventory levels attributable to the decline in first quarter sales and $17.1 million of acquired inventory, primarily related to National Pool Tile. The seasonal use of cash in operations increased $2.1 million to $15.4 million in the first quarter of 2008 compared to $13.3 million in the same period of 2007. "Based on results to date and the current external environment, we project full year 2008 earnings per share will be in the range of $1.20 to $1.50 per diluted share," continued Perez de la Mesa. At March 31, 2008, 272 sales centers were included in the base business calculations and 19 sales centers were excluded. Pool Corporation is the largest wholesale distributor of swimming pool and related backyard products. Currently, POOL operates 291 sales centers in North America and Europe, through which it distributes more than 100,000 national brand and private label products to roughly 70,000 wholesale customers. For more information about POOL, please visit www.poolcorp.com. This news release includes "forward-looking" statements that involve risk and uncertainties that are generally identifiable through the use of words such as "believe," "expect," "intend," "plan," "estimate," "project" and similar expressions and include projections of earnings. The forward‑looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements speak only as of the date of this release, and we undertake no obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur. Actual results may differ materially due to a variety of factors, including the sensitivity of our business to weather conditions, our ability to maintain favorable relationships with suppliers and manufacturers, competition from other leisure product alternatives and mass merchants, changes in the economy and the housing market and other risks detailed in POOL's 2007 Form 10-K filed with the Securities and Exchange Commission. CONTACT: Craig K. Hubbard 985.801.5117 craig.hubbard@poolcorp.com COVINGTON, LA. (April 24, 2008) – Pool Corporation (the "Company" or "POOL") (NASDAQ/GSM: POOL) today reported its results for the first quarter of 2008. ... » 4/18/2008
POOL CORPORATION TO PRESENT AT BURKENROAD REPORTS CONFERENCE
COVINGTON, LA (April 18, 2008) Pool Corporation (the "Company" or "POOL") (NASDAQ/GSM: POOL) announced today that Craig K. Hubbard, Treasurer, will be presenting at the 12th Annual Burkenroad Reports Investment Conference at The Sheraton in New Orleans. Mr. Hubbard is slated to present on April 25 at 12:00 pm Central. The presentation slides will be posted on POOL's website at that time. Pool Corporation is the largest wholesale distributor of swimming pool and related backyard products. Currently, POOL operates over 290 sales centers in North America and Europe, through which it distributes more than 100,000 national brand and private label products to roughly 70,000 wholesale customers. For more information about POOL, please visit www.poolcorp.com. This news release may include "forward-looking" statements that involve risk and uncertainties. The forward‑looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially due to a variety of factors, including the sensitivity of the swimming pool supply business to weather conditions and other risks detailed in POOL's 2007 Form 10-K filed with the Securities and Exchange Commission. CONTACT: Craig K. Hubbard Treasurer 985.801.5117 craig.hubbard@poolcorp.com COVINGTON, LA (April 18, 2008) Pool Corporation (the "Company" or "POOL") (NASDAQ/GSM: POOL) announced today that Craig K. Hubbard, Treasurer, will be presenting at the 12th Annual Burkenroad Reports Investment Conference at The Sheraton in New Orleans. Mr. Hubbard is slated to present on April 25 a...
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