Water Pik Technologies may pursue sale

Water Pik Technologies Inc. announced that its board of directors is considering various strategic alternatives to enhance stockholder value including pursuing a potential sale of a portion or all of the company...

NEWPORT BEACH, CA, Jan. 4, 2005 (BUSINESS WIRE) -- Water Pik Technologies Inc. announced that its board of directors is considering various strategic alternatives to enhance stockholder value including pursuing a potential sale of a portion or all of the company.

"We reported record sales and earnings per share in fiscal 2004 and are on track to achieve our previously stated growth outlook for 2005 and multi-year financial targets through 2006," stated Robert P. Bozzone, Water Pik chairman. "While we are pleased with the prospects for future growth, after completing an internal comprehensive strategic review of our businesses, the Board has determined it is appropriate to consider alternatives to maximize value to all stockholders."

J.P. Morgan Securities Inc., a longtime advisor to the company, has been retained to assist it in its evaluation of strategic alternatives. No assurance can be given that any strategic alternative involving a transaction will be pursued or, if a transaction is pursued, that it will be consummated.

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