Latham Teams With Olympic Gold Medalist and World Champion Skier Bode Miller to Promote Pool Safety Reminders for Water Safety Month
Latham Automatic Safety Cover
LATHAM, N.Y., May 02, 2025 (GLOBE NEWSWIRE) -- With summer just around the corner, Latham, The Pool Company [NASDAQ:SWIM], is reminding families to prioritize safety as we head into peak swimming season. During National Water Safety Month this May, the leading manufacturer of in-ground residential swimming pools is teaming up with Olympic and World Championship gold medalist and two-time Overall World Cup Champion Bode Miller to share essential pool safety tips with the goal of helping to prevent accidents and ensuring that homeowners can enjoy their pools with confidence.
'Drowning prevention is a cause that's deeply personal to me, which is why I've partnered with Latham and Coverstar to help raise awareness about the importance of pool safety,' said Bode Miller, whose 19-month-old daughter accidentally drowned in a neighbor's pool back in 2018. 'Simple steps like swim lessons and installing an autocover can make all the difference in keeping kids safe around the water.'
According to the Centers for Disease Control and Prevention (CDC), drowning is the leading cause of death among children ages 1–4, with more than 4,000 unintentional drowning deaths in the U.S. every year.* By taking proactive measures, pool owners can help create a safer swimming environment for their loved ones.
'Swimming pools are a place of joy, relaxation and family fun—but safety should always come first,' said Scott Rajeski, President and CEO of Latham. 'At Latham, we are committed to not only delivering high-quality pools, but also to providing education on how to create a secure pool environment. Water Safety Month is the perfect time to talk about how to make backyard swimming pools as safe as possible.'
Following are five essential water safety tips from the experts at Latham:
Never Leave Children Unattended – Always have an adult supervising when children are in or near an open pool. Designate a 'Water Watcher' to remain alert and avoid distractions like phones.
Teach Kids to Swim – According to the National Institute of Health, formal swim lessons can reduce the risk of drowning in children ages 1-4 by 88%.** It's important to enroll children in swim lessons as soon as possible.
Install an Automatic Safety Cover – One of the most effective ways to prevent tragic accidents is by installing an automatic safety cover. Made with ultra-durable material that is essentially impenetrable, these covers provide a secure barrier that keeps kids, pets, wildlife and unauthorized guests out of the water. Additionally, a keyed safety switch is required for operation, providing peace of mind when the pool is not in use and when owners are away.'You wouldn't build a house without a roof, would you? The same thinking applies to a pool,' explained Rajeski. 'Our Coverstar automatic pool covers offer incredible peace of mind for homeowners looking to keep loved ones and pets out of harm's way. They also help to maintain water quality and reduce evaporation, making them a smart investment overall.'
Practice Water Safety – Make sure every member of the household is educated on essential water safety rules, such as never swimming alone and always practicing the 'feet first' rule when entering a pool or spa.
Be Prepared for Emergencies – Keep safety equipment, such as a life ring and first aid kit, near the pool. It can also be helpful to learn CPR and ensure family and friends know how to respond in case of an emergency.
To learn more about water safety and automatic safety covers, visit LathamPool.com.
* Drowning Data | Drowning Prevention | CDC** Association Between Swimming Lessons and Drowning in Childhood: A Case-Control Study - PMC
About Latham, The Pool CompanyHeadquartered in Latham, NY, Latham Group, Inc., is the largest designer, manufacturer, and marketer of in-ground residential swimming pools and pool accessories in North America, Australia, and New Zealand. With over 60 years of experience and a coast-to-coast operations platform across 24 locations, the company offers a broad range of pool products, including fiberglass, vinyl liner, and automatic safety covers made by Coverstar. Based in Lindon, Utah, Coverstar is the leader in the automatic pool cover industry and a subsidiary of Latham Pool Products. For more information, visit www.lathampool.com.
Contact: Abigail Cox or Rachel IzsakL.C. Williams & Associates 800/837-7123 or 312/565-3900acox@lcwa.com or rizsak@lcwa.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/36b23737-20dd-4d49-87d6-b215b5f47af2Sign in to access your portfolio
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The increase can be attributed to lower costs for glass bottles and inbound freight due to the cost savings programs implemented by the Company, and the inclusion of the OGSP. Gross margin is also continuing to be impacted by channel mix and inflationary cost pressures in concentrate, packaging and other raw materials. In response to these margin pressures, the Company is continuing to execute cost savings programs and formulation changes relating to these inputs. For the year ended March 31, 2025, these programs have resulted in $10.7 million of cost savings (2024 - $9.3 million). As a percentage of revenue, selling and administrative expenses decreased to 34.7% and 26.6% for the three months and year ended March 31, 2025, respectively, compared to 42.1% and 28.4% in the prior year. Selling and administrative expenses in the fourth quarter of fiscal 2024 included $6.5 million relating to the retirement allowance and consulting agreements entered into as part of John Peller's retirement and transition and $3.0 million in legal and advisory fees incurred by certain shareholders in connection with these agreements. Offsetting the non-recurring expenses from 2024, was higher compensation and higher selling costs as a result of the strong performance in fiscal 2025. Earnings before interest, amortization, loss on debt extinguishment and financing fees, CEO retirement and transition costs, net unrealized gains and losses on derivative financial instruments, other (income) expenses, and income taxes ('EBITA') (see 'Non-IFRS Measures' section of this MD&A) was $13.5 million in the fourth quarter of fiscal 2025, compared to $9.3 million in the fourth quarter of prior year. EBITA increased to $62.9 million for the year ended March 31, 2025 compared to $50.3 million in prior year period. Interest expense for the three months and year ended March 31, 2025 has decreased by 22.4% and 4.4% respectively compared to the prior year due to lower average debt levels and lower interest rates in fiscal 2025 compared to prior year. The Company recorded a net unrealized non-cash loss in fiscal 2025 of $1.8 million related to mark-to-market adjustments on interest rate swaps and foreign exchange contracts compared to a loss of $0.6 million in the prior year. The Company recorded a loss of $0.7 million in the fourth quarter of fiscal 2025 compared to a gain of $1.0 million in the same quarter in the prior year. The Company has elected not to apply hedge accounting and accordingly the change in fair value of these financial instruments is reflected in the Company's consolidated statement of earnings (loss) each reporting period. These instruments are considered to be effective economic hedges and are expected to mitigate the short-term volatility of changing foreign exchange and interest rates. Other expenses (income), net were $0.6 million and $3.5 million for the three months and year ended March 31, 2025. The expense in fiscal 2025 related primarily to a restructuring initiative completed in fiscal year to align the Company's business structure with the changing retail landscape in Ontario. During the year ended March 31, 2025, the Company undertook certain tax planning initiatives as it relates to capital gains with respect to the Port Moody lands. This included transferring the beneficial interest in the land to a newly registered partnership. All parties associated with the limited partner are within the consolidated APL group and there has been no legal ownership change. In March 2025, the Government of Canada announced the cancellation of the previously proposed legislation changes to the capital gains inclusion rate. Consequently, the beneficial interest in the Port Moody lands was transferred at cost rather than at fair value as originally contemplated. The transaction had no impact on the Company's operating results or cash flows. The Company incurred a net loss of $0.7 million (loss of $0.02 per Class A share) for the fourth quarter of fiscal 2025 compared to a net loss of $6.9 million (loss of $0.17 per Class A share) in the fourth quarter of the prior year. For the year ended March 31, 2025, the Company generated net earnings of $11.1 million ($0.26 per Class A share) compared to a net loss of $2.9 million (loss of $0.07 per Class A Share) in the prior year. Investor Conference Call The Company will hold a conference call to discuss the results on Thursday, June 12, 2025 at 10:00 a.m. ET. Paul Dubkowski, CEO, Renee Cauchi, CFO and Patrick O'Brien, President and CCO, will host the call, with a question and answer period following management's presentation. Conference Call Dial In Details: Date: Thursday, June 12, 2025 Time: 10:00 a.m. (ET) Dial-in numbers: Local Toronto / International: (437) 900-0527 North American Toll Free: (888) 510-2154 RapidConnect: Webcast: A live webcast will be available at Replay: Following the live call, a recording will be available on the Company's investor relations website at About Andrew Peller Limited Andrew Peller Limited is one of Canada's leading producers and marketers of quality wines and craft beverage alcohol products. The Company's award-winning premium and ultra-premium Vintners' Quality Alliance brands include Peller Estates, Trius, Thirty Bench , Wayne Gretzky, Sandhill, Red Rooster, Black Hills Estate Winery, Tinhorn Creek Vineyards, Gray Monk Estate Winery, Raven Conspiracy, and Conviction . Complementing these premium brands are a number of popularly priced varietal offerings, wine-based liqueurs, craft ciders, and craft spirits. The Company owns and operates 101 well-positioned independent retail locations in Ontario under The Wine Shop, Wine Country Vintners, and Wine Country Merchants store names. The Company also operates Andrew Peller Import Agency and The Small Winemaker's Collection Inc., importers and marketing agents of premium wines from around the world. With a focus on serving the needs of all wine consumers, the Company produces and markets premium personal winemaking products through its wholly owned subsidiary, Global Vintners Inc., the recognized leader in personal winemaking products. More information about the Company can be found at . The Company utilizes EBITA (defined as earnings before interest, amortization, loss on debt extinguishment and financing fees, CEO retirement and transition costs, net unrealized gains and losses on derivative financial instruments, other (income) expenses, and income taxes) to measure its financial performance. EBITA is not a recognized measure under IFRS. Management believes that EBITA is a useful supplemental measure to net earnings, as it provides readers with an indication of earnings available for investment prior to debt service, capital expenditures, and income taxes, as well as provides an indication of recurring earnings compared to prior periods. Readers are cautioned that EBITA should not be construed as an alternative to net earnings determined in accordance with IFRS as indicators of the Company's performance or to cash flows from operating, investing, and financing activities as a measure of liquidity and cash flows. The Company also utilizes gross margin (defined as revenue less cost of goods sold, excluding amortization). The Company's method of calculating EBITA and gross margin may differ from the methods used by other companies and, accordingly, may not be comparable to measures used by other companies. Andrew Peller Limited common shares trade on the Toronto Stock Exchange (symbols ADW.A and ADW.B). FORWARD-LOOKING INFORMATION Certain statements in this news release may contain 'forward-looking statements' within the meaning of applicable securities laws including the 'safe harbour provisions' of the Securities Act (Ontario) with respect to APL and its subsidiaries. Such statements include, but are not limited to, statements about the growth of the business; its launch of new premium wines and craft beverage alcohol products; sales trends in foreign markets; its supply of domestically grown grapes; and current economic conditions. These statements are subject to certain risks, assumptions, and uncertainties that could cause actual results to differ materially from those included in the forward-looking statements. The words 'believe', 'plan', 'intend', 'estimate', 'expect', or 'anticipate', and similar expressions, as well as future or conditional verbs such as 'will', 'should', 'would', 'could', and similar verbs often identify forward-looking statements. We have based these forward-looking statements on our current views with respect to future events and financial performance. With respect to forward-looking statements contained in this news release, the Company has made assumptions and applied certain factors regarding, among other things: future grape, glass bottle, and wine and spirit prices; its ability to obtain grapes, imported wine, glass, and other raw materials; fluctuations in foreign currency exchange rates; its ability to market products successfully to its anticipated customers; the trade balance within the domestic Canadian and international wine markets; market trends; reliance on key personnel; protection of its intellectual property rights; the economic environment; the regulatory requirements regarding producing, marketing, advertising, and labelling of its products; the regulation of liquor distribution and retailing in Ontario; the application of federal and provincial environmental laws; and the impact of increasing competition. These forward-looking statements are also subject to the risks and uncertainties discussed in this news release, in the 'Risks and Uncertainties' section and elsewhere in the Company's MD&A and other risks detailed from time to time in the publicly filed disclosure documents of Andrew Peller Limited which are available at . Forward-looking statements are not guarantees of future performance and involve risks, uncertainties, and assumptions which could cause actual results to differ materially from those conclusions, forecasts, or projections anticipated in these forward-looking statements. Because of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. The Company's forward-looking statements are made only as of the date of this news release, and except as required by applicable law, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new information, future events or circumstances or otherwise. For more information, please contact: Craig Armitage and Jennifer Smith ir@ Source: Andrew Peller Limited
