2019-11-25 12:05Press release

Test Release on 25/11

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amLorem Arial Black (18) dolor sit amLorem Courier New(14)dolor sit amLorem Georgia (12) dolor sit amLorem TNR (10) dolor sit amLorem Impact (16) dolor sit amLorem Calibri (16) dolor sit am

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Bullets (italic)

  • This is a bullet TNR (18) point. Ei debet minimum duo, eam at amet intellegam reprehendunt. Ius ne dicta appetere, populo doming feugait pro
  • Another bullet point. Ei debet minimum duo, eam at amet intellegam reprehendunt. Ius ne dicta appetere, populo doming feugait Georgia (12) pro Ei debet minimum duo, eam at amet intellegam reprehendunt. Ius ne dicta appetere, populo doming feugait pro
    • This is an indented bullet Verdana (14) point. Ei debet minimum duo, eam at amet intellegam reprehendunt. Ius ne dicta appetere, populo doming feugait pro
    • Another indented Arial Black (20)bullet point. Ei debet minimum duo, eam at amet intellegam reprehendunt. Ius ne dicta appetere, populo doming feugait pro Ei debet minimum duo, eam at amet intellegam reprehendunt. Ius ne dicta appetere, populo doming feugait pro Ei debet minimum duo, eam at amet intellegam reprehendunt. Ius ne dicta appetere, populo doming feugait pro Ei debet minimum duo, eam at amet intel
      • 3 level indented bullet point. egam reprehendunt. Ius ne dicta appetere, populo doming feugait pro
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  2. This is bullet point #2. Verdana (9) Ei debet minimum duo, eam at amet intellegam reprehendunt. Ius ne dicta appetere, populo doming feugait pro Ei debet minimum duo, eam at amet intellegam reprehendunt. Ius ne dicta appetere, populo doming feugait pro
    1. This is indented bullet Courier New (24) point. Ei debet minimum duo, eam, eam at amet intellegam reprehendunt. Ius ne dicta appetere, populo doming feugait pro
    2. This is indened bullet point #2. Ei debet minimum duo, eam at amet intellegam reprehendunt indented Arial Black (20) bullet point. Ei debet minimum duo, eam at amet intellegam reprehendunt. Ius ne dicta appetere, populo doming feugait. Ius ne dicta appetere, populo doming feugait pro Ei debet minimum duo, eam at amet intellegam reprehendunt. Ius ne dicta appetere, populo doming feugait pro Ei debet minimum duo, eam at amet intel
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  1. This is a bullet point #1. Ei debet minimum duo, eam at amet intellegam reprehendunt. Ius ne dicta appetere, populo doming feugait pro
  2. This is a bullet Calibri (22) point #2. Ei debet minimum duo, eam at amet intellegam reprehendunt. Ius ne dicta appetere, populo doming feugait pro

 

  • This is a bullet point #1.  Ei debet minimum duo, eam at amet intellegam reprehendunt. Ius ne dicta appetere, populo doming feugait pro
  • Ei debet minimum duo, eam at amet intellegam reprehendunt.
  • minimum duo, eam at amet intellegam

Numbered list (bold, italic, underlined)

  1. This is a bullet point #1.  Ei debet minimum duo, eam at amet intellegam reprehendunt. Ius ne dicta appetere, populo doming feugait pro
  2. Ei debet minimum duo, eam at amet intellegam reprehendunt.

Hyperlinked image (Tulips)

Financial Table:

 

 

Three Months Ended

 

Six Months Ended

(In thousands, except per share data)

 

June 30, 2014

 

March 31, 2014

 

June 30, 2013

 

June 30, 2014

 

June 30, 2013

  • Net income
  • Income2

 

$

38,541

 

 

$

34,500

 

 

$

34,307

 

 

$

73,041

 

 

$

66,359

 

  • Less: Preferred Courier(9) dividends and discount accretion

 

1,581

 

 

1,581

 

 

2,617

 

 

3,162

 

 

5,233

 

  • Net income Arial Black (12) to common—Basic

 

36,960

 

 

32,919

 

 

31,690

 

 

69,879

 

 

61,126

 

  • Add: Dividends on convertible preferred stock, if dilutive

 

1,581

 

 

1,581

 

 

2,581

 

 

3,162

 

 

5,162

 

  • Net income applicable to common shares—Diluted

 

38,541

 

 

34,500

 

 

34,271

 

 

73,041

 

 

66,288

 

  • Weighted average common shares outstanding

 

46,520

 

 

46,195

 

 

37,486

 

 

46,358

 

 

37,231

 

Effect of dilutive potential common shares:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  1. Common stock equivalents

 

1,327

 

 

1,434

 

 

7,334

 

 

1,381

 

 

7,343

 

  1. Convertible preferred stock, if dilutive

 

3,075

 

 

3,075

 

 

5,020

 

 

3,075

 

 

5,020

 

  1. Weighted average common shares and effect of dilutive potential common shares
  2. Test b

 

50,922

 

 

50,704

 

 

49,840

 

 

50,814

 

 

49,594

 

  1. Test 1234
  2. Net Income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  1. Basic
  2. Standard

 

$

0.79

 

 

$

0.71

 

 

$

0.85

 

 

$

1.51

 

 

$

1.64

 

Diluted Impact (18)

 

$

0.76

 

 

$

0.68

 

 

$

0.69

 

 

$

1.44

 

 

$

1.34

 

 

 

 

 

Three Months Ended

 

Six Months Ended

(In thousands, except per share data)

 

June 30, 2014

 

March 31, 2014

 

June 30, 2013

 

June 30, 2014

 

June 30, 2013

  1. Net income
  2. Test 2

 

$

38,541

 

 

$

34,500

 

 

$

34,307

 

 

$

73,041

 

 

$

66,359

 

 

 

1,581

 

 

1,581

 

 

2,617

 

 

3,162

 

 

5,233

 

  1. Net income applicable to common shares—Basic

 

36,960

 

 

32,919

 

 

31,690

 

 

69,879

 

 

61,126

 

  1. Add: Dividends on convertible preferred stock, if dilutive

 

1,581

 

 

1,581

 

 

2,581

 

 

3,162

 

 

5,162

 

  1. Net income applicable to common shares—Diluted

 

38,541

 

 

34,500

 

 

34,271

 

 

73,041

 

 

66,288

 

  1. Weighted average common shares outstanding

 

46,520

 

 

46,195

 

 

37,486

 

 

46,358

 

 

37,231

 

Effect of dilutive potential common shares:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  1. Common stock TNR (16)  equivalents

 

1,327

 

 

1,434

 

 

7,334

 

 

1,381

 

 

7,343

 

  1. Convertible preferred stock, if dilutive

 

3,075

 

 

3,075

 

 

5,020

 

 

3,075

 

 

5,020

 

  1. Weighted average common shares and effect of dilutive potential common shares
  2. Test b

 

50,922

 

 

50,704

 

 

49,840

 

 

50,814

 

 

49,594

 

Net income per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.79

 

 

$

0.71

 

 

$

0.85

 

 

$

1.51

 

 

$

1.64

 

Diluted

 

$

0.76

 

 

$

0.68

 

 

$

0.69

 

 

$

1.44

 

 

$

1.34

 

 

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About Huttig

Huttig, Arial Black 14 size currently in its 133rd year of business, is one of the largest domestic distributors of millwork, building materials and wood products used principally in new residential construction and in home improvement, remodeling and repair work. Huttig distributes its products through 27 distribution centers serving 41 states. Huttig's wholesale distribution centers sell principally to building materials dealers, national buying groups, home centers and industrial users, including makers of manufactured homes.

  • 133rd year of business, is one of the largest domestic distributors of millwork, building materials
  • largest domestic distributors
  • Huttig's wholesale distribution centers sell principally
  • distribution cent
        • materials dealers, national buying groups, home centers and industrial users
        • national buying groups, home
    • Forward-Looking Statements

This press release contains forward-looking information as defined by the United States Private Securities Litigation Reform Act of 1995. This information presents management's expectations, beliefs, plans and objectives regarding future financial performance, and assumptions or judgments concerning such performance. Any discussions contained in this press release, except to the extent that they contain historical facts, are forward-looking and accordingly involve estimates, assumptions, judgments and uncertainties. Factors that could cause actual results or outcomes to differ materially from those addressed in the forward-looking information, include, but are not limited to the strength of construction, home improvement and remodeling markets and the recovery of the homebuilding industry to levels consistent with the historical average of total housing starts; the cyclical nature of our industry; the uncertainties resulting from changes to policies and laws following the U.S. election in November 2016; the cost of environmental compliance, including actual expenses we may incur to resolve proceedings we are involved in arising out of the formerly owned facility in Montana; any limitations on our ability to utilize our deferred tax assets to reduce future taxable income and tax liabilities; our ability to comply with, and the restrictive effect of, the financial covenant applicable under our credit facility; the loss of a significant customer; deterioration of our customers’ creditworthiness or our inability to forecast such deteriorations; commodity prices; risks associated with our private brands; termination of key supplier relationships; risks of international suppliers; competition with existing or new industry participants; goodwill impairment; the seasonality of our operations; significant uninsured claims; federal and state transportation regulations; fuel cost increases; our failure to attract and retain key personnel;  deterioration in our relationship with our unionized employees, including work stoppages or other disputes; funding requirements for multi-employer pension plans for our unionized employees; product liability claims and other claims, litigation matters or regulatory proceedings; and the integration of any business we acquire and the liabilities of such businesses. Other important factors that could cause actual results or outcomes to differ materially from those addressed in the forward-looking information, include, but are not limited to, those detailed in Huttig's Annual Report on Form 10-K for the year ended December 31, 2016 and Quarterly Report on Form 10-Q for the quarter ended June 30, 2017, filed with the Securities and Exchange Commission and in other reports filed by Huttig with the Securities and Exchange Commission from time to time.

    • Non-GAAP Financial Measures

Huttig supplements its reporting of net income with non-GAAP measurement of Adjusted EBITDA. This supplemental information should not be considered in isolation or as a substitute for GAAP measures.

Huttig defines Adjusted EBITDA as net income adjusted for interest, income taxes, depreciation and amortization and other special significant items as listed in the table below.

Huttig presents Adjusted EBITDA because it is a primary measure used by management, and by similar companies in the industry, to evaluate operating performance and Huttig believes it enhances investors’ overall understanding of the financial performance of our business.  Adjusted EBITDA is not a recognized term under GAAP and does not purport to be an alternative to net income as a measure of operating performance.  Huttig compensates for the limitations of using non-GAAP financial measures by using them to supplement GAAP results to provide a more complete understanding of the factors affecting the business.  Because not all companies use identical calculations, Huttig’s presentation of Adjusted EBITDA may not be comparable to other similarly titled measures of other companies.

    • Adjusted EBITDA (unaudited)

The following table presents a reconciliation of net income, the most directly comparable financial measure under GAAP, to Adjusted EBITDA for the periods presented (in millions):

 

 

 

 

 


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