National Dentex Corporation Announces Extension of Credit Facility
16 Décembre 2008 - 10:15PM
Business Wire
National Dentex Corporation (NASDAQ: NADX), one of the largest
owner/operators of dental laboratories in the United States, today
announced that it amended its credit facility with Bank of America,
N.A. The amendment to National Dentex�s $50,000,000 credit
facility: (i) extends the maturity date of the revolving line of
credit to November 7, 2011; (ii) amends certain interest rate terms
and definitions; and (iii) amends and restates certain financial
covenants. Mr. David Brown, President & CEO, commented: �We are
very pleased to enter into this amendment with Bank of America,
with which we have had a long standing beneficial relationship,
especially given the current difficulties in the credit markets. By
extending the maturity date of our revolving facility for an
additional two years, making it coterminous with our term loan, we
believe that we will have sufficient liquidity to meet our needs
for the foreseeable future at a reasonable cost.� About National
Dentex National Dentex Corporation serves an active customer base
of over 24,000 dentists through 46 dental laboratories located in
31 states and one Canadian province. National Dentex�s dental
laboratories provide a full range of custom-made dental prosthetic
appliances, including dentures, crowns, and fixed bridges, and
other dental specialties. Safe Harbor Statement This press release
contains forward-looking statements within the meaning of the
federal securities laws, including but not limited to statements
regarding the economic downturn, consumer spending, our liquidity
needs and our credit facility, that are based on our current
expectations, beliefs, assumptions, estimates, forecasts and
projections about the industry and markets in which National Dentex
operates. The forward-looking statements contained in this release
are not guarantees of future performance and involve certain risks,
uncertainties and assumptions that are difficult to predict.
Therefore, actual outcomes and results may differ materially from
what is expressed in such forward-looking statements. Important
factors that may affect future operating results and acquisition
activity include the timing, duration and effects of adverse
changes in overall economic conditions and other developments that
directly or indirectly affect consumer decisions as to whether and
when to have dental procedures performed, including the current
economic slowdown and credit market disruptions; National Dentex�s
ability to acquire new laboratories on terms and conditions
acceptable to it and its capacity to integrate and successfully
operate previously acquired laboratories; governmental regulation
of health care; trends in the dental industry towards managed care;
increases in labor, benefits and material costs; product
development risks; technological innovations; competition from
other dental laboratories, including increased competition from
dental laboratories located in foreign countries with lower labor
and benefit costs, such as China; National Dentex�s ability to
attract, retain and motivate qualified personnel; changes in the
cost or availability of raw materials, particularly precious metals
like gold, platinum and palladium; any impairment in the carrying
value of goodwill or other acquired intangibles; National Dentex�s
ability to access the credit markets on commercially reasonable
terms; compliance with evolving federal securities, accounting, and
marketplace rules and regulations applicable to publicly-traded
companies on the NASDAQ Global Market; and other risks indicated
from time to time in National Dentex�s filings with the Securities
and Exchange Commission, particularly under Item 1A, �Risk Factors�
of National Dentex�s most recently filed Annual Report on Form 10-K
and subsequently filed Quarterly Reports on Form 10-Q. National
Dentex assumes no obligation to update the information included in
this press release, whether as a result of new information, future
events or otherwise.
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