EXHIBIT 99.1
ACME UNITED CORPORATION NEWS RELEASE
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CONTACT: Paul G. Driscoll
Acme United Corporation
60 Round Hill Road Fairfield, CT 06824
Phone: (203) 254-6060 FAX: (203) 254-6521
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FOR IMMEDIATE RELEASE July 9, 2008
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ACME UNITED CORPORATION PROVIDES UPDATE
FAIRFIELD, CONN. - July 9, 2008 - Acme United Corporation (AMEX:ACU)
announced today that its sales and earnings for the second quarter ending June
30, 2008 will have meaningful growth.
Walter C. Johnsen, Chairman and CEO said, "We are experiencing a strong
back to school period. Sales of our anti-microbial school scissors, rulers and
math kits are excellent. Our Westcott office and craft cutting and measuring
products are ahead of last year, The Clauss product line has continued to make
inroads in the industrial and hardware channels. Sales of our Physicians Care
first aid kits and medications are doing well.
"Gross margins are under some pressure due to rising costs in raw
materials, labor, and transportation," Mr. Johnsen said. He added that careful
control of expenses and growth of revenues are expected to provide solid
earnings in the quarter.
Mr. Johnsen also stated that he views this as a time of outstanding
opportunity for Acme United. The Company has recently expanded its credit line,
lowered its borrowing rate, and is positioned to take advantage of complementary
acquisitions of product lines or companies.
ACME UNITED CORPORATION is a leading worldwide supplier of innovative
cutting, measuring and safety products to the school, home, office and
industrial markets.
Forward-looking statements in this earnings release, included without
limitation, statements related to the Company's plans, strategies, objectives,
expectations, intentions and adequacy of resources. Investors are cautioned that
such forward-looking statements involve risks and uncertainties including
without limitation the following: (i) the Company's plans, strategies,
objectives, expectations and intentions are subject to change at any time at the
discretion of the Company; (ii) the Company's plans and results of operations
will be affected by the Company's ability to manage its growth, and (iii) other
risks and uncertainties indicated from time to time in the Company's filings
with the Securities and Exchange Commission.
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