These summarizes bars near pnc park measures should hotels by pnc park uncovers not be considered inisolation or as a substitute for any measure derived in accordance with GAAP,and may also be inconsistent with similar measures presented by other companies.Reconciliation of these measures to the most closely comparable GAAP measures,and reasons for the company`s use of these measures, are presented in theattached pages. Operating Income Before Charges/Gains is a measure not derived in accordance with GAAP. Use of Non-GAAP Financial Information This press release includes measures not derived in accordance with generallyaccepted accounting principles ("GAAP"), such as diluted earnings per sharebefore charges/gains, operating income before charges/gains, comparable netsales, return on equity before charges/gains, return on invested capital beforecharges/gains, and free cash flow. housing market; competitive market pressures (includingpricing pressures); customer defaults and related bad debt expense;consolidation of trade customers; successful development of new products andprocesses; ability to secure and maintain rights to intellectual property; riskspertaining to strategic acquisitions and joint ventures, including the potentialfinancial effects and performance of such acquisitions or joint ventures, andintegration of acquisitions and the related confirmation or remediation ofinternal controls over financial reporting; changes related to the U.S. Actual results maydiffer materially from those projected as a result of certain risks anduncertainties, including but not limited to: general economic conditions,including the U.S.
Readers are cautioned that these forward-lookingstatements speak only as of the date hereof, and the company does not assume anyobligation to update, amend or clarify them to reflect events, new informationor circumstances occurring after the date of this release concert at pnc park . Acushnet Company's golf brands includeTitleist, Cobra and FootJoy hotels close to pnc park . Fortune Brands, headquartered in Deerfield,Illinois, is traded on the New York Stock Exchange under the ticker symbol FOand is included in the S&P 500 Index and the MSCI World Index hotels in pittsburgh near pnc park . To receive company news releases by e-mail, please visit Forward-Looking StatementsThis press release contains statements relating to future results, which areforward-looking statements as that term is defined in the Private SecuritiesLitigation Reform Act of 1995 oar pnc park . Its operatingcompanies have premier brands and leading market positions in distilled spirits,home and hardware, and golf products Beam Global Spirits & Wine, Inc is thecompany's premium spirits business. Major spirits brands include Jim Beam andMaker's Mark bourbon, Sauza tequila, Canadian Club whisky, Courvoisier cognac,Cruzan rum, Teacher's and Laphroaig Scotch, EFFEN vodka and DeKuyper cordials.Home and hardware brands include Moen faucets, Aristokraft, Omega, Diamond andKitchen Craft cabinetry, Therma-Tru door systems, Simonton windows, Master Locksecurity products and Waterloo storage and organization products sold by unitsof Fortune Brands Home & Hardware LLC. The company`s growth rates in the second half will also benefit fromcomparison to last year`s progressively soft results, predominantly in thefourth quarter.
The company also reaffirmed its expectation to generate free cash flow for 2009in the range of $400 million after dividends and net capital expenditures About Fortune BrandsFortune Brands, Inc is a leading consumer brands company directions to pnc park . This full-year target, which is within our original guidance, continues toreflect our assumption that results in our home products and golf segments willbe lower, partly offset by underlying growth in our spirits business, which nowrepresents more than 70% of our operating income before charges," Carbonariconcluded hotels by pnc park . Because the high end of our range was dependent onsome measure of improvement in our markets - and because conditions in the homeand golf products markets remain as challenging as they are - we`re nowtargeting EPS before charges/gains to be in the range of $2.00-2.30 for the fullyear hotels close to pnc park . With six months nowbehind us - and a clearer picture of our markets - we`re in a position to refineour full-year EPS target . "Our first-half results and our ongoing initiatives enhance our confidence inachieving full-year results within our EPS target range. These priority initiatives include adjusting to theevolving consumer, developing innovative new products and brand-buildingprograms, reducing cost structures while enhancing our supply-chain flexibility,and aggressively managing our cash. We expect that we will continue to benefitfrom our ability to deliver value to consumers with our trusted brands, qualityproducts, innovations and excellent positions up and down the price ladderacross our businesses.