ALTA GENETICS INC. REPORTS RECORD REVENUES FOR SIX MONTHS TO JUNE 30TH, 1995.CALGARY, ALBERTA--(BUSINESS WIRE)--Aug. 2, 1995--ALTA GENETICS INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : AGI (Artificial General Intelligence) A machine intelligence that resembles that of a human being. Considered impossible by many, most artificial intelligence (AI) research, projects and products deal with specific applications such as industrial robots, playing chess, ) Revenues for the second quarter ended June 30, 1995 were up 100 percent over the corresponding quarter of 1994. This was largely attributable to world-wide dairy semen semen or seminal fluid Whitish viscous fluid emitted from the male reproductive tract that contains sperm and liquids (seminal plasma) that help keep them viable. sales resulting from the acquisition of Landmark Genetics on March 1, 1995. Gross margin improved to 61 percent this quarter from 46 percent for the same quarter last year as the product mix included higher revenues from semen sales, and also reflects more semen sales aimed directly versus through distributors. Higher Selling and Administration Expenses were primarily due to the operations of Landmark Genetics and to provisions for bad debts in Mexico. Earnings before interest and taxes In financial and business accounting, earnings before interest and taxes (EBIT) is a measure of a firm's profitability that excludes interest and income tax expenses.[1] EBIT = Operating Revenue – Operating Expenses + Non-operating Income for the quarter were up 58 percent over the same period last year, however, higher interest, and taxes reduced net earnings. For the first six months of 1995, revenues of $18.0 million are up 80 percent and earnings of $1.6 million are up 22 percent over the same period last year. On a fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. basis there are more shares outstanding and this reduced earnings per share by $0.01 for this six month period. -0-
ALTA GENETICS INC.
SELECTED FINANCIAL DATA
(All data in thousands except per share amounts)
Three months to Six months to
June 30th June 30th
1995 1994 1995 1994
---- ---- ---- ----
Revenues $9,924 $4,962 $17,953 $10,024
Earnings before interest
income taxes $1,101 $ 698 $ 2,519 $ 1,312
Net earnings $ 564 $ 694 $ 1,587 $ 1,297
Earnings per share (Basic) $ 0.08 $ 0.14 $ 0.28 $ 0.26
Earnings per share (Fully
Diluted) $ 0.08 $ 0.14 $ 0.25 $ 0.26
Average common shares
outstanding (Basic) 4,989 5,021 4,989 5,021
Average common shares
outstanding (Fully Diluted) 7,141 5,021 6,428 5,021
Alta Genetics Inc. is engaged in the production, research, and marketing of products and services based on livestock genetics. The Company specializes in bull semen, cow embryos, live cattle, and reproductive technologies Reproductive technology is a term for all current and anticipated uses of technology in human and animal reproduction, including assisted reproductive technology, contraception and others. . Research is focused on the application of technology to maintain the Company's world-wide reputation for quality genetics. About 43 percent of the Company's revenues were derived from products exported to over 50 countries. Common shares of Alta Genetics Inc. trade on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol "AGI". CONTACT: Douglas G. Blair, President and C.E.O., 403/239-8882, 403/241-4524 (FAX) or Donald B. Dufault, Executive Vice President and C.F.O., 403/226-0666, 403/226-4259 (FAX) REPEATS: New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212-575-8822 or 800-221-2462; Boston 617-330-5311 or 80 |
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