ADS Associes Ltee continues to experience strong growth and increased profitability.QUEBEC CITY, QUEBEC--(BUSINESS WIRE)--SEPTEMBER 20, 1995--ADS ASSOCIES LTEE LTEE Limitee (French: Limited Company) (ME:AAL (ATM Adaption Layer) The part of the ATM protocol that breaks up application packets into 48-byte payloads which become ATM cells when the 5-byte headers are attached. The AAL resides between the higher layer transport protocols and the ATM layer. ) The Board of Directors of ADS Associes Ltee is pleased to announce that earnings for the second quarter ended July 31, 1995, have been excellent, and the Company is confident it will be able to sustain this profitability to the end of the present fiscal year. Earnings for the six-month period ended July 31, 1995 were $37,102,204 compared to $26,714,846 during the same period in 1994, an increase of almost 40 percent. Operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. for the first six months of the fiscal year totalled $5,018,446, up 56 percent from the $3,214,768 recorded during the same period in 1994. Net earnings stood at $2,314,166 compared to $2,660,113 for the same quarter during the previous fiscal year, while basic earnings per share were $0.29 compared to $0.36. Not counting a non-recurring profit on dilution of $1,152,571 in the first quarter of the previous year, net Company earnings rose from $1,507,542 to $2,314,166. These results are outstanding and clearly show that Company operations have entered a period of sustained growth that in no way imperils the Company's profitability. Mr. Paul Drouin, Chairman of the Board, also stated that the Company's investment plans are on track. Over the last quarter, the Company made investments of $3,100,000, bringing total investment for the first six months of the fiscal year to $4,848,939. Long-term financing Long-term financing Liabilities repayable in more than one year plus equity. for these investments should allow the Company to significantly reduce reliance on bank advances between now and the end of the current fiscal year. Mr. Drouin noted that expansion work at the Beauce Composites premises at Sainte-Clotilde was completed at the end of last August, increasing plant size from 50,000 to 80,000 square feet. Work on the new Thetford Mines Thetford Mines, city (1991 pop. 17,273), S Que., Canada, NE of Sherbrooke and S of Quebec. The city, developed after the discovery (1876) of large asbestos deposits, is located in one of the world's largest asbestos-producing regions. Chromium and feldspar are also mined. plant, which will operate under the corporate name of TM Composites Inc., is well underway and production should start this November. At the Texel Inc. subsidiary, the new North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. facilities will begin operation during the next quarter. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Mr. Drouin, the start-up of these two new plants will have an immediate, positive impact on sales and group profitability. He added that the major investments being made this year by the Company fit perfectly with its mission, which is to be a global player in the manufacture of technical textiles The introduction to this article provides insufficient context for those unfamiliar with the subject matter. Please help [ improve the introduction] to meet Wikipedia's layout standards. You can discuss the issue on the talk page. and composite materials for industrial uses. CONTACT: Paul Drouin, Eng., 418/626-1688 |
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