Teknion Corporation

Teknion Corporation

January 11, 2007 17:11 ET

Teknion Corporation Announces Fourth Quarter 2006 Revenue Update

TORONTO, ONTARIO--(CCNMatthews - Jan. 11, 2007) - Teknion Corporation (TSX:TKN) today provided an update regarding its fourth quarter revenues. In the Company's October 12, 2006 press release announcing its third quarter results, the Company indicated that revenues for the fourth quarter of fiscal 2006 (the quarter ending November 30, 2006) were expected to show growth over revenues for the third quarter of fiscal 2006 (the quarter ending August 31, 2006), which were $156.3 million.

The Company expects that revenues in the fourth quarter will be approximately $175 million. Revenues in the fourth quarter of fiscal 2005 were $173.1 million. However, the Company's fourth quarter results have not been finalized and remain subject to review by the Company's auditors. The Company expects to release its audited financial results for the fourth quarter and the 2006 fiscal year on or about February 13, 2007.

Cautionary Statement

Certain of the above statements are forward-looking statements that involve risks and uncertainties. Actual results could differ materially as a consequence of a number of factors, including: fluctuations in the Company's operating results due to product demand arising from competitive and general economic and business conditions in the Company's North American and international markets and operations; significant fluctuations in exchange rates for currencies in which the Company does business; changes in the cost of raw materials; the ability to maintain the proprietary nature of the Company's intellectual property in the design and manufacturing of its products; changes in the Company's markets, including technology change, changes in customer requirements, frequent new product introductions by competitors and emerging standards; the Company's dependence on key personnel; the Company's dependence on key commitments from significant dealers and distributors; availability of financing for the Company; potential liabilities arising from product defects; environmental matters and other factors set forth in the Company's reports and filings with Canadian securities regulators. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Teknion Corporation (TSX:TKN) is a leading international designer, manufacturer and marketer of office systems and related office furniture products. Teknion's headquarters are located in Toronto, Ontario. The company has offices and facilities in Canada, the United States, the United Kingdom, and the Pacific Rim, and serves clients through a network of authorized dealers worldwide. Visit Teknion at www.teknion.com.

Contact Information

  • Teknion Corporation
    Steven E. Cohen
    Senior Vice President, Corporate Development
    (416) 661-1577, ext. 2456
    Teknion Corporation
    Scott E. Bond
    Senior Vice President, Chief Financial Officer & Secretary
    (416) 661-1577, ext. 2391
    Website: www.teknion.com