Admiral Announces Operating Results for Third Quarter 1996.TORONTO--(BUSINESS WIRE)--Aug. 20, 1996--ADMIRAL SANITATION INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). : ADS) Admiral Sanitation Inc. ("Admiral") today announced its operating results for the nine months ended June 30, 1996. Sales volumes were $2.49 million, an increase of over $900,000 or 60 percent over sales of $1.56 million for the same period in 1995. While comparisons of net after tax income and earnings per share are not meaningful as Admiral was a private company in 1995, net income before taxes but after payment of dividends on preference shares, amounted to $88,000 in 1996 compared with $75,000 for the same period last year. As at June 30, 1996, operating cash flow Operating cash flow Earnings before depreciation minus taxes. Measures the cash generated from operations, not counting capital spending or working capital requirements. was $118,000 compared with $81,000 in 1995, working capital ratio had improved to 1.46:1 from 1.15:1 and debt/equity ratio Debt/Equity Ratio A measure of a company's financial leverage calculated by dividing long-term debt by shareholders equity. It indicates what proportion of equity and debt the company is using to finance its assets. had declined to 1.08:1 from 1.26:1 a year ago. These financial ratios continue to show a strong positive trend and the balance sheet is now significantly stronger that it was in 1995. Growth in sales and earnings for the nine months to June 30, 1996, was attributable mainly to the continued introduction of new, environmentally friendly Environmentally friendly, also referred to as nature friendly, is a term used to refer to goods and services considered to inflict minimal harm on the environment.[1] products, increased sales to new and existing clients, including sales under long term contracts with leading supermarket chains in Ontario and the Martitimes for their internal sanitation requirements and sales of water treatment products following the acquisition of Kem East Sales Ltd., announced on April 17, 1996. Edward A. Bayer, President and 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 Admiral stated that the company is well on its way to achieving its targeted net income of $0.03 per share (undiluted ) for the year to September 30, 1996 and that he expects the company to do considerably better than this in fiscal 1997, when the full effect of the recent acquisition of Kem East Sales Ltd. is reflected in the sales figures sales figures npl → cifras fpl de ventas . Admiral is a manufacturer and supplier of quality environmentally friendly sanitation and general maintenance products to government departments, municipalities, institutions, school boards and corporation, particulary those in the food service industry. -0- Note to Editors: The Alberta Stock Exchange has neither approved nor disapproved of the information contained herein. CONTACT: Admiral Sanitation Inc. Gary Perkins, 905/479-2800 800/225-2744 (Toll Free) 905/479-8608 (Fax) |
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