Enesco Group, Inc. Resolves Litigation with Department 56, Inc.
February 28 2006 - 4:33PM
Business Wire
Enesco Group, Inc. (NYSE:ENC), a leader in the giftware, and home
and garden decor industries, today announced the Company resolved
with Department 56 its litigation relating to Jim Shore Designs,
Inc. As part of the settlement agreement, Enesco and Department 56
agreed to a full waiver and released each other from any losses,
claims, damages and expenses relating to this lawsuit. The
settlement agreement between Enesco and Department 56 does not
resolve Enesco's ongoing litigation with Kevin Knowles and/or
Sunshine Productions. About Enesco Group, Inc. Enesco Group, Inc.
is a world leader in the giftware, and home and garden decor
industries. Serving more than 30,000 customers globally, Enesco
distributes products to a wide variety of specialty card and gift
retailers, home decor boutiques, as well as mass-market chains and
direct mail retailers. Internationally, Enesco serves markets
operating in the United Kingdom, Canada, Europe, Mexico, Australia
and Asia. With subsidiaries located in Europe and Canada, and a
business unit in Hong Kong, Enesco's international distribution
network is a leader in the industry. The Company's product lines
include some of the world's most recognizable brands, including
Border Fine Arts, Bratz, Circle of Love, Foundations, Halcyon Days,
Jim Shore Designs, Lilliput Lane, Pooh & Friends, Walt Disney
Classics Collection, and Walt Disney Company, among others. Further
information is available on the Company's web site at
www.enesco.com. This press release contains forward-looking
statements, which reflect management's current assumptions and
beliefs and are based on information currently available to
management. The Company has tried to identify such forward-looking
statements by use of such words as "expects," "intends,"
"anticipates," "could," "estimates," "plans," and "believes," and
similar expressions, but these words are not the exclusive means of
identifying such statements. Such statements are subject to various
risks, uncertainties and other factors, which could cause actual
results to vary materially from those anticipated, estimated,
expected or projected. Important factors that may cause actual
future events or results to differ materially and adversely from
those described in the forward-looking statements include, but are
not limited to: the Company's success in implementing its
comprehensive plan for operating improvement and achieving its
goals for cost savings and market share increases; the Company's
success in developing new products and consumer reaction to the
Company's new products; the Company's ability to secure, maintain
and renew popular licenses, particularly our Cherished Teddies,
Disney and Jim Shore Designs licenses; the Company's ability to
grow revenues in mass and niche market channels; the Company's
ability to comply with covenants contained in its credit facility;
the Company's ability to obtain a new global senior credit
facility; changes in general economic conditions, as well as
specific market conditions; fluctuations in demand for our
products; manufacturing lead times; the timing of orders and
shipments and our ability to predict customer demands; inventory
levels and purchase commitments exceeding requirements based upon
forecasts; collection of accounts receivable; changes in the
regulations and procedures affecting the importation of goods into
the United States; changes in foreign exchange rates; price and
product competition in the giftware industry; variations in sales
channels, product costs or mix of products sold; and, possible
future terrorist attacks, epidemics, or acts of war. In addition,
the Company operates in a continually changing business environment
and does not intend to update or revise the forward-looking
statements contained herein, which speak only as of the date
hereof. Additional information regarding forward-looking statement
risk factors is contained in the Company's reports and filings with
the Securities and Exchange Commission. In light of these risks and
uncertainties, the forward-looking statements contained herein may
not occur and actual results could differ materially from those set
forth herein. Accordingly, you should not rely on these
forward-looking statements as a prediction of actual future
results.
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