Nam Tai Electronics, Inc. Announces Date to Report Second Quarter 2013 Results and Payment of Quarterly Dividend
SHENZHEN, China, June 13, 2013 /PRNewswire/ -- Nam Tai Electronics, Inc. ("Nam Tai" or the "Company") (NYSE: NTE) today announced the date of release of its second quarter results and payment of its quarterly dividend.
Second Quarter Results
Nam Tai announced to release its second quarter financial results for the period ended June 30, 2013 on Monday, August 5, 2013 at 6:30 a.m. (EDT). Nam Tai had previously announced that it was planning to release its second quarter 2013 financial results on Monday, July 29, 2013. In light of the recent complaint, the Company has elected to cease the oral discussion of its financial results following the release of its quarterly financial results, while continue to maintain its robust disclosure of material current events through press releases. This policy change is effective immediately and accordingly there will be no Company-hosted conference call following the release of Nam Tai's second quarter 2013 financial results.
The record date for the Company's third quarter cash dividend of $0.15 per common share will be June 28, 2013. The change is being made due to the fact that June 30, 2013 is a Sunday. The dividend payment date will be July 19, 2013.
FORWARD-LOOKING STATEMENTS AND FACTORS THAT COULD CAUSE OUR SHARE PRICE TO DECLINE
Certain statements included in this press release other than statements of historical fact, are forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "plan", "seek" or "believe". These forward-looking statements, which are subject to risks, uncertainties, and assumptions, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations about future events. There are important factors that could cause our actual results, level of activity, performance, or achievements to differ materially from the results, level of activities, performance, or achievements expressed or implied by the forward-looking statements, including, but not limited to, a deterioration of the markets for the Company's customers' products and the global economy as a whole, which could negatively impact the Company's revenue and the ability of the Company's customers to confirm prior orders or pay for the Company's products; the Company's ability to successfully transition a part, if not all, of its business from electronic manufacturing to real estate development; the sufficiency of the Company's cash position and other sources of liquidity to operate its business; and the negative effects of increased competition pressure on the Company's revenues and margins.. In particular, you should consider the risks outlined under the heading "Risk Factors" in our most recent Annual Report on Form 20-F and in our Current Report filed from time to time on Form 6-K. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance, or achievements. You should not rely upon forward-looking statements as predictions of future events. These forward-looking statements apply only as of the date of this press release and the subsequent investors conference call; as such, they should not be unduly relied upon as circumstances change. Except as required by law, we are not obligated, and we undertake no obligation, to release publicly any revisions to these forward-looking statements that might reflect events or circumstance occurring after the date of this release or those that might reflect the occurrence of unanticipated events.
ABOUT NAM TAI ELECTRONICS, INC.
We are an electronics manufacturing and design services provider to a select group of the world's leading OEMs of telecommunications, consumer electronic, medical and automotive products. Through our electronics manufacturing services operations, we manufacture electronic components and subassemblies, including LCD modules, image-sensor modules and FPCAs. These components are used in numerous electronic products, smartphones, tablets, automotive, laptop computers, digital cameras, electronic toys, handheld video game devices, and entertainment devices. We also manufacture finished products, including mobile phone accessories, home entertainment products and educational products. We assist our OEM customers in the design and development of their products and furnish full turnkey manufacturing services that utilize advanced manufacturing processes and production technologies.
Nam Tai Electronics, Inc. is a corporation registered in the British Virgin Islands and listed on the New York Stock Exchange (Symbol "NTE"). All the Company's operations are located in the People's Republic of China.
SOURCE Nam Tai Electronics, Inc.