Kraft 2002 Annual Report Download - page 46

kraft foods inc. management’s discussion and analysis of financial condition and results of operations
Forward-Looking and Cautionary Statements
The Company and its representatives may from time to time
make written or oral forward-looking statements, including
statements contained in the Company’s filings with the SEC and
in its reports to shareholders. One can identify these forward-
looking statements by use of words such as “strategy,”
“expects,” “plans,” “anticipates,” “believes,” “will,” “continues,”
“estimates,” “intends,” “projects,” “goals,” “targets” and other
words of similar meaning. One can also identify them by the fact
that they do not relate strictly to historical or current facts. These
statements are based on our assumptions and estimates and are
subject to risks and uncertainties. In connection with the “safe
harbor” provisions of the Private Securities Litigation Reform Act
of 1995, the Company is hereby identifying important factors that
could cause actual results and outcomes to differ materially from
those contained in any forward-looking statement made by or on
behalf of the Company; any such statement is qualified by
reference to the following cautionary statements.
Each of the Company’s segments is subject to intense
competition, changes in consumer preferences, the effects of
changing prices for its raw materials and local economic
conditions. Their results are dependent upon their continued
ability to promote brand equity successfully, to anticipate and
respond to new consumer trends, to develop new products
and markets, to broaden brand portfolios in order to compete
effectively with lower priced products in a consolidating
environment at the retail and manufacturing levels, and to
improve productivity. The Company’s results are also dependent
on its ability to consummate and successfully integrate
acquisitions, including its ability to derive cost savings from
the integration of Nabisco’s operations with the Company.
In addition, the Company is subject to the effects of foreign
economies, currency movements and fluctuations in levels
of customer inventories. The Company’s benefit expense is
subject to the investment performance of pension plan assets,
interest rates and cost increases for medical benefits offered
to employees and retirees. The food industry continues to be
subject to recalls if products become adulterated or misbranded,
liability if product consumption causes injury, ingredient
disclosure and labeling laws and regulations and the possibility
that consumers could lose confidence in the safety and quality
of certain food products. Developments in any of these areas,
which are more fully described elsewhere in this document
and which descriptions are incorporated into this section by
reference, could cause the Company’s results to differ materially
from results that have been or may be projected by or on behalf
of the Company. The Company cautions that the foregoing list
of important factors is not exclusive. Any forward-looking
statements are made as of the date of the document in which
they appear. The Company does not undertake to update any
forward-looking statement that may be made from time to time
by or on behalf of the Company.
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