Hypertherm Announces More than 57 Percent Increase in Stock Valuation
Hanover, NH, USA - Hypertherm Inc. today announced a 2006 stock valuation of $37.75 per share, for a year over year increase of more than 57 percent. The new price compares with a 2005 valuation of $24 per share.
The announcement was made to applause this afternoon by Hypertherm president Dick Couch, who spoke to associates at the company's headquarters in Hanover, New Hampshire.
"I commend all of you for this new valuation as it is a direct result of your efforts to continuously innovate and improve," Couch said. "It is your drive and dedication which make Hypertherm metal cutting systems and consumables the best in the world."
Hypertherm attributes the record stock valuation to strong demand for its products, rapid global growth and continued process improvements which allow the maker of thermal cutting equipment to leverage its manufacturing operations.
From initial conception, to design, execution and final delivery, Hypertherm's reputation and track record of translating customer needs into superbly engineered products continues to grow. Hypertherm introduced several new products in 2006 including its HyPerformance Plasma® HPR260 mechanized cutting system and the Powermax30®. All were enthusiastically received by the marketplace.
"Hypertherm enjoyed record growth and operating performance in 2006 and it's gratifying to see that growth-and the hard work of our associates-reflected in our stock price," commented Carey Chen, chief financial officer for Hypertherm. "Our numbers show a healthy company, well positioned to lead the thermal cutting industry for years to come."
The 2006 share price for the privately-held ESOP (Employee Stock Ownership Plan) company was determined by independent appraisal. The appraisal, by New York investment bank T.M. Capital, looked at factors such as current financial performance, future cash flow prospects, and the market value of other industrial product companies similar to Hypertherm.
Hypertherm launched the Hypertherm Stock Ownership Plan (a qualified ESOP) in 2001. At the time, shares were valued at approximately $7 each. Hypertherm's international associates take part in a similar program called the Global Stock Value Plan (GSVP).
Since 1968, Hypertherm has been the industry leader in plasma arc cutting equipment and service. By continually delivering breakthrough advances in metal-cutting productivity and precision - first in plasma, now also in laser - Hypertherm reaffirms and extends its position as the world's leading supplier of advanced high temperature metal cutting technology. Hypertherm serves a wide range of industrial metal cutting needs from its headquarters in Hanover, New Hampshire, with subsidiaries, sales offices and partner representation worldwide.
