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The company announced 2002 targets for sales of$525 million and net income of $61 million, and ability to achieve an income from operations profit margin of 19%. These figures compare with 1999 results of $461 million in sales, $43.4 million in net income and an income from operations profit margin of 17.2%. In addition, the company is targeting additional sales of $200 million by 2002 associated with new acquisitions. fine china key to the plan are to:better allocate sales and production resources to key markets and customers to improve sales mix, and exiting marginal sales activity;achieve operational efficiencies and lower costs through higher capital spending in new technologies, with capital spending expected to exceed inc. to pursue its growth agenda without decides to terminate effort to china acquire , cites entrenchment attitude at despite 133% premium. frequently asked questions how does fine china china and fit into your total strategy? we are becomng a more important resource of supply items to the foodservice industry. our china''s high-quality ceramic dinnerware has a major presence in fine restaurants nationwide, and ''s selection of imported metal flatware and holloware and ceramic dinnerware, round out our portfolio of foodservice industry tabletop products. and in 1998 we began to sell these high-quality products through retail channels of distribution, opening up exciting new sales opportunities.how do you plan to grow your business? we will grow through two principal routes. china first, we will grow by accelerating the execution of additional acquisitions of domestic foodservice supply companies. second, we will become a more prominent producer of glass tableware globally by exploring new business combinations or "green meadow" facilities if that is the best route. at the same time, we will continue to invest in growing existing businesses with new fine marketing programs and accelerated new product development. the company imports and sells a full line of metal flatware and holloware and an assortment of ceramic dinnerware and other tabletop items, principally for the foodservice industry in the united states. in 1998, its net sales totaled $436.5 million. inc is china the largest producer of glass tableware in north america ;is the leading producer of tabletop products for the foodservice industry; exports to more than 100 countries; and provides technical assistance to glass tableware manufacturers around the world.1999 business imperatives he company''s business imperatives and financial fine goals for 1999 are to: reach $450 million in revenues, $77 million in income from operations and $44 million china in net income, exclusive of acquisitions and restructuring charges improve returns from investments in inventories, receivables, fine equipment and facilities as measured by attaining higher economic value; and move closer to perfect order completion, with a 97% order-fill rate, on-time shipments the day promised, and error reduction of 25%;investment china attributes leading position in sales to foodservice users.
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