AZCAR Announces Record Revenue of C$58 Million in 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 Technologies Incorporated (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :AZZ)today announced fourth quarter revenue of C$11,494,603 and record annual revenue of C$57,999,652 in 2005. Revenue grew by 16.4% for the fiscal year compared to 2004. Net income for 2005 was C$1,069,997, an increase of 654% over 2004 and 7.0 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. . The Company's gross margin continues to improve year-over-year.
---------------------------------------------------------------------
2005 2004 2005 2004
Three Months Ended Dec. 31 Year Ended Dec. 31
---------------------------------------------------------------------
(Canadian $000) (unaudited) (unaudited) (audited) (audited)
Revenues 11,495 14,603 58,000 49,841
Cost of goods sold 8,829 12,714 47,785 42,518
---------------------------------------------------------------------
Gross margin 2,666 1,889 10,215 7,323
Gross margin % 23.2% 12.9% 17.6% 14.7%
---------------------------------------------------------------------
Operating expenses 2,478 1,785 7,939 6,508
Foreign exchange (gain) loss 4 101 293 217
Amortization 87 116 290 293
---------------------------------------------------------------------
2,569 2,002 8,522 7,018
---------------------------------------------------------------------
Income (loss) before taxes
and Minority Interest 97 (113) 1,693 305
% of revenues 0.8% -0.8% 2.9% 0.6%
Income tax expense (recovery) (23) (77) 678 (2)
---------------------------------------------------------------------
Income (loss) before
Minority Interest 120 (36) 1,015 307
---------------------------------------------------------------------
Minority Interest (42) (47) 55 (165)
Net Income (Loss) 78 (83) 1,070 142
---------------------------------------------------------------------
Earnings (loss) per share $0.01 ($0.01) $0.07 $0.01
---------------------------------------------------------------------
Cash dividends - - - -
---------------------------------------------------------------------
Three themes dominated the AZCAR landscape this year: growth, addition of senior management and improvements in business processes. In 2005 the Company enjoyed a high level of repeat business from its existing customer base while adding several new and important clients. Two of the new clients, Crown Castle and AT&T (the former SBC (1) (SBC Communications Inc., San Antonio, TX, www.sbc.com) A large, national telecommunications company that grew from a multitude of local and regional companies, including Southwestern Bell, Pacific Bell and Nevada Bell, into a single, unified brand by 2002. ) demonstrate the evolving nature of AZCAR's client base. Crown Castle provides streaming media See streaming audio, streaming video and digital media hub. to cell phones while AT&T offers video services using IPTV (Internet Protocol TV) Also called "TV over IP," IPTV delivers scheduled TV programs and video-on-demand (VOD) via the IP protocol and digital streaming techniques used to watch video on the Internet. technology. In the fourth quarter, the Company leveraged its established strengths into additional markets by adding an office in Atlanta and sales representatives in Seattle, Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. and Chicago. These additions have generated a strong order backlog leading into 2006. AZCAR Procom, a 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. specializing in presentation, boardroom and high end media systems, was established in May 2005. The division met its 2005 targets and has entered 2006 with several significant projects in hand and is expected to experience strong growth. Megahertz One million cycles per second. See MHz. MegaHertz - (MHz) Millions of cycles per second. The unit of frequency used to measure the clock rate of modern digital logic, including microprocessors. , AZCAR's UK subsidiary, had a challenging beginning to 2005 but has continued to build a strong base of business in the areas of High Definition Outside Broadcast (OB) vehicles, Digital Satellite News Gathering (DSNG DSNG Digital Satellite News Gathering ) vehicles and other specialized communications vehicles. Management continues to focus on operating efficiencies, improvements in workflow, process and internal controls, all of which have resulted in improved margins and financial performance of the Company. In 2006 the Company plans to implement a new enterprise software solution that will improve operating efficiencies, strengthen compliance reporting and provide a seamless integrated business information systems environment. AZCAR is an independent technology integration company providing the broadcast and communications industries with value-driven solutions, consulting, engineering, systems design, integration, project management and the supply of related materials and equipment. 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. The Toronto Stock Exchange has neither approved nor disapproved th e information contained herein. AZCAR Technologies Incorporated (TSX:AZZ) |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion