VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 13, 2005) - Finning International Inc. ("Finning") (TSX:FTT), today announced that it is reaffirming earnings guidance for 2005 and establishing earnings guidance for fiscal 2006.
2005 Earnings Guidance - Finning reaffirmed that its basic, normalized earnings per share, before the impact of long term incentive plan expenses associated with its deferred share units, is expected to be between $1.99 and $2.03 for the fiscal year ended December 31, 2005. This amount is consistent with the most recent guidance provided by Finning on November 14, 2005. For the 9 month period ended September 30, 2005, the expense arising out of long term incentive plan expenses associated with the deferred share units amounted to $0.18 per share. The expense amount for the full year will depend on the share price at year-end as well as the impact of time vesting of share appreciation right's and options.
2006 Earnings Guidance - The outlook for the Company for 2006 remains very positive and Finning is announcing that its basic, normalized earnings per share, before the impact of long term incentive plan expenses associated with its deferred share units, is expected to be between $2.25 and $2.40 for the fiscal year ended December 31, 2006.
Finning International Inc. is one of the world's largest Caterpillar equipment dealers. The Company sells, rents, finances and provides customer support services for Caterpillar equipment and engines in Western Canada, the U.K., and South America (Argentina, Bolivia, Chile and Uruguay). Finning also owns Hewden, the largest equipment rental business in Europe. Headquartered in Vancouver, British Columbia, Canada, Finning International Inc. is a widely held, publicly traded corporation, listed on the Toronto Stock Exchange (symbol FTT). For additional information please visit our website at www.finning.com
This release contains forward-looking statements and information, which reflect the current view of Finning International Inc. with respect to future events and financial performance. Any such forward-looking statements are subject to risks and uncertainties and Finning's actual results of operations could differ materially from historical results or current expectations. Finning assumes no obligation to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein do not materialize.
Refer to Finning's annual report, management information circular, annual information form and other filings with the Ontario Securities Commission and Toronto Stock Exchange for further information on risks and uncertainties that could cause actual results to differ materially from forward-looking statements contained in this report.
FOR FURTHER INFORMATION PLEASE CONTACT:
Finning International Inc.
Vice President, Investor Relations
(604) 331-4899 (FAX)