Hypertherm Announces Record Profit Sharing Distribution
Hypertherm, Inc.
Etna Road, PO Box 5010
Hanover, NH 03755 USA
603-643-3441 Tel
603-643-5352 Fax
www.hypertherm.com
Contact information
Jennifer Ferland
603-643-3441 ext. 1322 Tel
603-643-5352 Fax
jennifer.ferland@hypertherm.com
http://www.hypertherm.com
Hanover, NH, USA (December 13, 2006) - Richard W. Couch, Jr., CEO of Hypertherm, Inc., today announced a record annual profit sharing distribution to company associates for 2006, totaling over $11.8 million to 741 eligible associates, an amount equivalent to 35% of each associate's base salary. Mr. Couch attributed this record payout to outstanding business results in 2006, fueled by a combination of superior sales growth and strong discipline and continuous improvement in the company's operations. Sales growth has been propelled by a healthy capital equipment investment environment for Hypertherm's leading high-temperature metal cutting products, as well as strong international expansion by the company, and the rapid customer adoption of Hypertherm's most recent generations of plasma and laser cutting equipment.
Mr. Couch emphasized that profit sharing at Hypertherm is part of the company's long-standing philosophy of shared rewards - sharing the earnings of the company with all associates. The profit sharing program payout has averaged nearly 24% of eligible associate base salary over the past ten years alone. The shared rewards philosophy is also embodied in Hypertherm's associate stock ownership plan (an ESOP), initiated in 2001, by which 30% of the company's outstanding shares are being distributed to company associates at no cost. These and other associate-focused programs have earned the company recognition by publications ranging from HR Magazine to Fortune as a "best company to work for."
Mr. Couch further noted Hypertherm's sustained growth and competitive health as the essential business foundation for its superior shared rewards programs. The company has nearly doubled in revenues in the past three years and increased its global employment base by over 30% to more than 800 associates. Mr. Couch cited his pride in the company's continued expansion of high-value design and manufacturing operations and in the company's associate contributions to their communities. These contributions, supported by Hypertherm community investment programs, earned the company a Corporate Spirit of Service Award in 2006 from the Corporation for National and Community Service.
Hypertherm has been the industry leader in plasma arc cutting equipment and service since 1968. The company serves a wide range of industrial metal cutting needs from its headquarters in Hanover, New Hampshire, with subsidiaries, sales offices and partner representation worldwide. By continually delivering breakthrough advances in metal-cutting productivity and capability, Hypertherm consistently reaffirms its position as the world's leading supplier of advanced high-temperature metal cutting technology. For more information on Hypertherm please visit www.hypertherm.com
