Materion Named One of Fortune's 100 Fastest-Growing Companies
MAYFIELD HEIGHTS, Ohio--(BUSINESS WIRE)-- Materion Corporation (NYS: MTRN) announced that Fortune has ranked the Company No. 59 on the magazine's 2012 list of the 100 Fastest-Growing Companies. The full list and related stories appear in the September 24, 2012 issue of Fortune and online now at:
"We are honored to receive this recognition from Fortune for our record of growth, profitability and return to shareholders," said Richard J. Hipple, Materion Chairman, President and CEO. "Over the past decade, we have repositioned the Company to achieve faster and more sustainable growth and profitability. The Company's performance over the period measured by this list demonstrates the success of the transformation."
To qualify for the Fortune list, a company - domestic or foreign - must be trading on a major U.S. stock exchange; report data in U.S. dollars; file quarterly reports with the SEC; have a minimum market capitalization of $250 million and a stock price of at least $5 on June 29, 2012, and have been trading continuously since June 30, 2009. Companies must have revenue and net income of at least $50 million and $10 million, respectively, for the four quarters ended on or before April 30, 2012, and they must have posted an annualized growth in revenue and earnings per share of at least 20% annually over the three years ended on or before April 30, 2012.
Companies that meet these criteria are ranked by revenue growth rate, EPS growth rate, and three-year annualized total return for the period ended June 29, 2012. The overall rank is based on the sum of the three ranks. Once the 100 companies are identified, they are then re-ranked within the 100, using the three equally weighted variables.
Portions of the narrative set forth in this document that are not statements of historical or current facts are forward-looking statements, in particular the outlook provided above. Our actual future performance may materially differ from that contemplated by the forward-looking statements as a result of a variety of factors. These factors include, in addition to those mentioned elsewhere herein:
The global economy;
The condition of the markets which we serve, whether defined geographically or by segment, with the major market segments being: consumer electronics, industrial and commercial aerospace, defense and science, energy, medical, automotive electronics, telecommunications infrastructure and appliance;
Changes in product mix and the financial condition of customers;
Actual sales, operating rates and margins for 2012;
Our success in developing and introducing new products and new product ramp-up rates;
Our success in passing through the costs of raw materials to customers or otherwise mitigating fluctuating prices for those materials, including the impact of fluctuating prices on inventory values;
Our success in integrating acquired businesses, including EIS Optics Limited and Aerospace Metal Composites Limited;
Our success in moving the microelectronics packaging operations to Singapore;
Our success in implementing our strategic plans and the timely and successful completion and start-up of any capital projects, including the new primary beryllium facility in Elmore, Ohio;
The availability of adequate lines of credit and the associated interest rates;
The impact of the results of acquisitions on our ability to achieve fully the strategic and financial objectives related to these acquisitions;
Other financial factors, including the cost and availability of raw materials (both base and precious metals), physical inventory valuations, metal financing fees, tax rates, exchange rates, pension costs and required cash contributions and other employee benefit costs, energy costs, regulatory compliance costs, the cost and availability of insurance, and the impact of the Company's stock price on the cost of incentive compensation plans;
The uncertainties related to the impact of war, terrorist activities and acts of God;
Changes in government regulatory requirements and the enactment of new legislation that impacts our obligations and operations;
The conclusion of pending litigation matters in accordance with our expectation that there will be no material adverse effects;
The timing and ability to achieve further efficiencies and synergies resulting from our name change and product line alignment under the Materion name and Materion brand; and
The risk factors set forth in Part 1, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2011.
Materion Corporation is headquartered in Mayfield Heights, Ohio. The Company, through its wholly owned subsidiaries, supplies highly engineered advanced enabling materials to global markets. Products include precious and non-precious specialty metals, inorganic chemicals and powders, specialty coatings, specialty engineered beryllium alloys, beryllium and beryllium composites, and engineered clad and plated metal systems.
Michael C. Hasychak, 216-383-6823
Patrick S. Carpenter, 216-383-6835
KEYWORDS: United States North America Ohio
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