AQM first quarter financial results.TORONTO Toronto (tərŏn`tō), city (1998 est pop. 2,400,000), provincial capital, S Ont., Canada, on Lake Ontario. Toronto is the largest city in Canada and since the 1970s has been one of the fastest-changing cities in North America, experiencing , Ontario--(BUSINESS WIRE)--March 14, 1995--AQM Automotive Corp. Tuesday announced its combined financial and operating results for its first fiscal quarter in 1995 (Dec. 1, 1994 - Feb. 28, 1995) with comparative results for the first quarter in 1994 as follows: -0-
First Quarter First Quarter
February 28 Year Ago
1995 1994
Sales $2,215,528 $1,327,182 Total operating expenses 641,918 385,596 Net income 78,551 1,924 Earnings per share $0.0070 $0.0002 Sales volume for the first quarter ended February 28, 1995 rose 67 percent to $2,215,528 compared with $1,327,182 a year earlier. Net income during this period increased significantly to $78,551 or $0.0070 per share compared with $1,924 or $0.0002 per share a year earlier. During this period, #326,644 in funds were provided from the issuance of $1,018,018 common shares as a result of the exercise of 97 percent of the Company's outstanding warrants. Funds used in operations in this period rose to $524,794 compared with $472,271 a year earlier. In December, 1994, the Company's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Filtronic Filter Manufacturing Ltd. completed the development phase of its manufacturing facility and commenced the shipment of finished product. As a result, the first quarter's results were negatively affected by higher operating costs operating costs npl → gastos mpl operacionales associated with the commencement of manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. . Higher costs were also incurred as the Company has significantly expanded it's marketing efforts in export markets and expects to see a positive benefit in future periods from these efforts. Leslie Leib, Chairman of the Board, stated that the Company's sales for the 1995 fiscal year are forecast to grow by over 50 percent and net income by over 75 percent. The additional manufacturing capacity now on-line will provide the resources necessary to ensure steady production flows during peak periods and will help support the Company's strong growth in 1995. The Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). has neither approved nor disapproved of the information contained herein. CONTACT: AQM AQM Active Queue Management AQM Air Quality Management AQM Acquisition Management AQM Assistant Quartermaster (Civil War) AQM Additive Quark Model AQM Analog Quadrature Modulator AQM Acenaphthenequinone Monoxime Automotive Corp., Toronto Gary Perkins Born in 1937 in Abilene, Texas, Gary Perkins (July 14, 1937 - June 28, 1991) DJ, a man of major importance to the industry who began his radio career in 1957 at Midland Texas' KCRS where Roy Orbison and Buddy Holly used to drop their records off. , 905/479-2800 ext. 24 |
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