NASHVILLE, TN, September 23, 2003. Thomas Nelson, Inc. (NYSE: TNM) today announced that it purchased certain assets of the World Bible Publishers division of RiversideWorld, Inc. on September 19, 2003. The purchase was made for cash. Additional terms of the transaction were not disclosed.
Commenting on the acquisition, Sam Moore, President of Thomas Nelson said, "World Bible Publishers is a respected name in our industry. This acquisition will add to our product base and demonstrates our commitment to the Christian market."
The Company also announced that it expected to operate the business as a wholly owned subsidiary of Thomas Nelson, Inc. under the leadership of Terry Draughon.
This news release includes certain forward-looking statements. Actual results could differ materially from those reflected by the forward-looking statements and a number of factors may affect future results, liquidity and capital resources. These factors include, but are not limited to, softness in the general retail environment, the timing and acceptance of products being introduced to the market, the level of product returns experienced, the level of margins achievable in the marketplace, the collectibility of accounts receivable, the recoupment of royalty advances, the effects of acquisitions or dispositions, the financial condition of our customers and suppliers, the realization of inventory values at carrying amounts, our access to capital and the realization of income tax (including the outcome of any future Internal Revenue Service audits) and intangible assets. Future revenue and margin trends cannot be reliably predicted and may cause the Company to adjust its business strategy during the remaining portion of the 2004 fiscal year. The Company disclaims any intent or obligation to update forward-looking statements.
Thomas Nelson, Inc. is a leading publisher, producer and distributor of books emphasizing Christian, inspirational and family value themes, and believes it is the largest publisher of Bibles and inspirational books in the English language. For more information, visit our website www.ThomasNelson.com.
Thomas Nelson's Common stock and Class B Common stock is listed on the New York Stock Exchange (NYSE: TNM).
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