AZCAR Announces $16.2 Million in Revenue, and $380,000 in Net Income in Q2 2005.MARKHAM, Ontario Markham (2006 Population 261,573[0]) is located in York Region, directly north of Toronto, and is part of Toronto's CMA. It is larger than many Canadian cities. Despite its qualifications regarding population, it has not had the title of city conferred upon it by the -- Stephen F. Pumple, President & 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. of AZCAR (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :AZZ) today announced AZCAR's second quarter revenue was $16.2 million, or 35% above Q2 2004. The net income of $380,000, or 2.5 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , reflects the Company's strong performance in the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. market. The business climate for AZCAR's services in 2005 continues to be very positive and gives every indication of continuing through 2006. The changes made in Q2 by the new COO to the management process, infrastructure and control system are already generating improvements to the internal processes and are reflected in improved operating margins and the bottom line in our major market, the USA. However, YTD See Year-to-date. YTD See year to date (YTD). revenue and related earnings decreased outside the USA due to lost business in Q1 & Q2. The continued discussions in the US Congress regarding the conversion from analog to all digital television transmission appears to be leading to a hard transition in 2009. These technological changes are good for AZCAR's business.The Company is also seeing a resurgence of deferred projects, a high level of repeat business, and increasing opportunities worldwide.The regulatory and market pressures to accelerate the deployment of High Definition television (HDTV (High Definition TV) A set of digital television (DTV) standards that offer the highest resolution and sharpest picture. Although some HDTV sets are available in standard (rather square) screen sizes, the overwhelming majority of sets are wide screen, which eliminates ) along with advances in Internet Protocol (IP), and streaming technologies represent both new and repeat business opportunities for AZCAR.
Consolidated Statements of Operations
Periods 2005 2004 2005 2004
ending
June 30 Three months ended Variance Six months ended Variance
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Can$000's Unaudited Unaudited Unaudited Unaudited
Revenues 16,157 11,958 4,199 32,965 21,979 10,986
Cost of
goods sold 13,457 9,633 (3,824) 28,408 18,080 (10,328)
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Gross margin 2,700 2,325 375 4,557 3,899 658
Gross margin % 16.7% 19.4% -2.7% 13.8% 17.7% -3.9%
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Operating
expenses 2,120 1,453 (667) 3,840 2,975 (865)
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Income before
taxes and
minority
interest 580 872 (292) 717 924 (207)
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Net Income 380 723 (343) 502 686 (184)
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Earnings per
share - Basic
(cents) 2.5 4.7 (2.2) 3.3 4.5 (1.2)
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AZCAR is an independent technology integration company providing value-driven solutions, consulting, engineering, systems design, integration, project management, maintenance and the supply of related products to organizations in the broadcasting, communications and training industries.The stock trades 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: AZZ. This review contains Management's discussion of AZCAR's operational results and financial condition, and should be read in conjunction with the audited consolidated financial statements Consolidated Financial Statements The combined financial statements of a parent company and its subsidiaries. Notes: Because consolidated financial statements present an aggregated look at the financial position of a parent and its subsidiaries, they enable you to gauge for the year ended December 31, 2004, the unaudited consolidated financial statements for the period ended June 30, 2005, and each of the related "Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial " (MD&A) documents. The Toronto Stock Exchange has neither approved nor disapproved the information contained herein. AZCAR Technologies Incorporated (TSX:AZZ) |
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