Exhibit 99.1
FOR IMMEDIATE RELEASE
Peerless Mfg. Co. Announces Chief Financial Officer Resignation
Dallas, Texas — September 23, 2005 — Peerless Mfg. Co. (Nasdaq:PMFG —News), today announced the resignation of Mr. Richard L. Travis, Jr. as Chief Financial Officer of the Company. Mr. Travis verbally advised the Company of his resignation on September 19, 2005 to be effective October 18, 2005. Mr. Travis has accepted a position with a larger publicly traded company in the Dallas-Fort Worth area. No disputes exist regarding financial issues.
Mr. Sherrill Stone, Chairman and Chief Executive Officer of the Company, stated, “Mr. Travis has been a valuable contributor to the Company during his tenure and he will be missed. We wish him the best of luck in his new endeavor.”
Mr. Travis, stated, “I have truly enjoyed my tenure at Peerless and my departure is in no way a negative reflection on Peerless. I have been presented with an outstanding opportunity and wish nothing but success for the employees and shareholders of Peerless.”
About Peerless Mfg. Co.
Peerless Mfg. Co. is engaged in the business of designing, engineering, manufacturing and selling highly specialized products used for the abatement of air pollution and products for the separation and filtration of contaminants from gases and liquids. The Company, headquartered in Dallas, Texas, markets its products worldwide.
Safe Harbor Under The Private Securities Litigation Reform Act of 1995
Certain statements contained in this press release that are not historical facts are forward-looking statements that involve a number of known and unknown risks, uncertainties and other factors that could cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievement expressed or implied by such forward-looking statements. The words “anticipate,” “preliminary,” “expect,” “believe,” “intend” and similar expressions identify forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for such forward-looking statements. In order to comply with the terms of the safe harbor, the Company notes that a variety of factors could cause actual results and experience to differ materially from the anticipated results or other expectations expressed in such forward-looking statements. The risks and uncertainties that may affect the operations, performance, development and results of the Company include, but are not limited to: the growth rate of the Company’s revenue and market share, the consummation of new, and the non-termination of, existing contracts; the Company’s ability to effectively manage its business functions while growing its business in a rapidly changing environment, the Company’s ability to adapt and expand its services in such an environment; the quality of the Company’s plans and strategies; and the Company’s ability to execute such plans and strategies. Other important information regarding factors that may affect the Company’s future performance is included in the public reports that the Company files with the Securities and Exchange Commission. The Company undertakes no obligation to revise any forward-looking statements or to update them to reflect events or circumstances occurring after the date of this release, or to reflect the occurrence of unanticipated events. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The inclusion of any statement in this release does not constitute an admission by the Company or any other person that the events or circumstances described in such statement are material.