ABL Canada Inc. Announces Fourth Quarter & Annual Results.MONTREAL--(BUSINESS WIRE)--Feb. 24, 1998--ABL Canada Inc. (ME: ABL) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : ABL), today reported earnings for the quarter ended December 31, 1997. (in thousands of dollars, except share data) Fourth Quarter 1997 1996 __________________________________________________________ Revenue 9,479 6,352 Earnings (loss) before non-recurring items and income taxes 1,502 (393) Net Earnings (loss) for the quarter 1,502 (5,834) Net Earnings (loss) per share before non-recurring items and income taxes $0.08 ($0.02) Net Earnings (loss) per share for the quarter $0.08 ($0.33) Year-ended December 31 __________________________________________________________ Revenue 24,212 18,131 Net loss before non-recurring items and income taxes 1,861 6,773 Net loss for the year 1,861 12,214 Net loss per share before non-recurring items and income taxes $0.10 $0.38 Net loss per share for the year $0.10 $0.69 Revenues for the fourth quarter 1997 at $9.5 million represent a 49 percent increase over the $6.4 million recorded for the 1996 comparable period. This brought the total revenues to $24.2 million for the year, an increase of 34 percent compared to the $18.1 million reported for 1996. Margins at 53 percent for this quarter compares to 46 percent for the 1996 quarter and bring the year's mark to 49 percent. Earnings for the quarter at $1.5 million compares to a loss for the 1996 quarter of $5.8 million which included non-recurring items. Fourth quarter earnings were insufficient to reverse the loss for the year, which was finalized at $1.9 million and compares to the 1996 loss of $12.2 million which also included non-recurring items. This quarter represents two milestone events in ABL's history. This is the first quarter in which ABL has achieved profitability, and the sales volume is higher than any quarter in the company's history. It represents yet another step forward in the latest string of ABL successes. This quarter is the seventh in an unbroken chain of consecutive quarterly improvements on the previous year's performances. Sales were led by shipments to European customers, however, every region contributed to the overall growth this quarter, as a result of tightly disciplined sales expansion, and growing acceptance of video products in the market. Operating costs operating costs npl → gastos mpl operacionales were held to only a 7 percent increase over the same quarter the previous year while revenues have increased over 49 percent. "We promised our shareholders that we would be poised for profitability by the fourth quarter of 1997" said Bill McKenzie Bill McKenzie (b. March 12, 1949 in St. Thomas, Ontario) was a Canadian professional ice hockey goaltender who played for the Detroit Red Wings, Kansas City Scouts, and Colorado Rockies in the National Hockey League. , ABL's President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "We are entering 1998 with a strong sense of confidence for the company's future." ABL Canada Inc., from facilities in Montreal, Canada, develops, produces and markets advanced digital equipment for companies choosing to enhance their network capabilities for the integrated, simultaneous delivery of multimedia voice, data and video. ABL specializes in video codecs (1) A hardware circuit that converts analog video (NTSC, PAL, SECAM) into digital code and vice versa. The term may refer to only the A/D and D/A conversion, or it may include the compression technique for further reducing the signal (definition #2 below). See codec. , optical fiber multiplexers and broadband switches for multimedia transmission over optical fiber and ISDN ISDN in full Integrated Services Digital Network Digital telecommunications network that operates over standard copper telephone wires or other media. , and Frame Relay A high-speed packet switching protocol used in wide area networks (WANs). Providing a granular service of up to DS3 speed (45 Mbps), it has become popular for LAN to LAN connections across remote distances, and services are offered by most major carriers. networks, for wide ranging applications including distance learning, video conferencing See videoconferencing. (communications) video conferencing - A discussion between two or more groups of people who are in different places but can see and hear each other using electronic communications. , remote surveillance and broadcast and cable television distribution. ABL markets and services its products in over 41 countries through its offices in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Canada and Europe and through a network of distributors and resellers world wide. ABL is traded on the Montreal and Toronto stock exchanges Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol ABL. CONTACT: ABL Canada Inc. Stephen Farrell John Stephen Farrell (known as Stephen Farrell) is a British journalist who has been the Middle East correspondent for The Times. In July 2007, he joined The New York Times as a correspondent in Baghdad[1]. , 514/344-5432 514/344-5441 (fax) http://www.abl.ca |
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