As a result of the revised outlook, New Century is increasing its EPS target estimate for fiscal year 2002 to $3.90 - $4.10 based on 24.3 million shares outstanding on a fully-dilated basis. This new estimate marks a change from earlier in the year, when the company estimated that its EPS range for 2002 would be $3.60 - $3.80.
New Century continues to generate significant cash flow and it is expected that cash flow from operations for fiscal 2002 will exceed cash flow from operations as reported for fiscal 2001, according to Edward F. Gotschall, the company's vice chairman and chief financial officer.
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