2012 earnings growth is expected to occur entirely in the second half of the year. Earnings for the first half of 2012 are expected to be disproportionately impacted by the continued pressure on gross margins, as significantly higher year-over-year product costs began to impact the Company during the second half of 2011 and are expected to continue into the first half of 2012.
Also disproportionately affecting earnings for the first half of 2012 is the negative impact from foreign currency translation, as the Euro to United States dollar exchange rates in the first half of 2012 are expected to be significantly weaker than actual rates experienced in the first half of 2011.
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.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
