ADS Continues its Growth.QUEBEC CITY, Canada --(BUSINESS WIRE)--Sept. 18, 1996--The Board of Directors of ADS Inc. (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. .A) has announced that results from the second quarter ended last July 31 are in line with growth forecasts despite slightly lower profits than for the same period of the previous fiscal year. Management is confident that the Company will be able to achieve its annual goals during the second half. Sales for the first six months of the current fiscal year stood at $45.1 million, a 21 percent increase over the $37.1 million recorded for the first half of the previous fiscal year. In addition, the Company ended the first half of the current fiscal year with operating profits Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. of $6.1 million compared to $5.0 million for the first six months of the previous fiscal year. This 22 percent increase is a reflection of improved sales during the last half. Net earnings for the first half of 1996 rose 10.7 percent compared to the same period the previous fiscal year, increasing from $2.3 million in 1995 to $2.6 million in 1996. This has boasted basic earnings per share to $0.16 for the first half of 1996 from $0.15 during the first half of 1995. It should be noted that this result takes into account the Company's two-for-one stock split at the end of last July. The quarter that just ended was also marked by additional investments of $1.4 million, bringing total investments during the first six months of the fiscal year to $2.2 million. The slight drop in profit levels from a year previous during the same quarter is mainly attributable to the poor weather conditions that affected the geosynthetic market last summer. In addition, composite material composite material or composite, any material made from at least two discrete substances, such as concrete. Many materials are produced as composites, such as the fiberglass-reinforced plastics used for automobile bodies and boat hulls, but the plants supplying the transportation industry had their production slowed by renovations. A further cyclical cyclical Of or relating to a variable, such as housing starts, car sales, or the price of a certain stock, that is subject to regular or irregular up-and-down movements. downturn in the shoe market put a damper damp·er n. 1. One that deadens, restrains, or depresses: Rain put a damper on our picnic plans. 2. An adjustable plate, as in the flue of a furnace or stove, for controlling the draft. on output in this sector, providing results that were lower than expected. However, production picked up in early August and should erase the negative impact this has had. Also of note, Fibrex Fibre de Verre Inc. and Pultrall Inc. were recently acquired and ADS Inc.'s equity position in Beauce Composites Inc. was increased by 40 percent. These developments have consolidated ADS Inc's position in the manufacturing sector. The Company is also close to reaching agreement on merging its engineering-consulting activities with those of Groupe Soprin Inc. ADS Inc. is a holding company mainly involved in the manufacturing sector through subsidiairies operating in the field 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. It also has holdings in the engineering construction sector. Company shares are quoted on the Montreal Stock Exchange Montreal Stock Exchange See Bourse de Montreal, Inc. (Canadian Derivatives Exchange) under ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors AAL.A. CONTACT: ADS Inc. Paul Drouin, Eng., 418/626-3383 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion