Adventure Electronics Inc. - First Quarter Results.MONTREAL--(BUSINESS WIRE)--April 23, 1996--ADVENTURE ELECTRONICS(ME, TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : AVN AVN Aviation AVN Avenue AVN Adult Video News AVN Avascular Necrosis AVN Atrioventricular Node AVN Aviation Model (weather forecast model, now Global Forecast System) AVN Air Vanuatu (ICAO code) ) For the first quarter ended March 31, 1996, Adventure Electronics recorded sales of $58.6_million, compared with $57.8_million for the same period in the preceding fiscal year. The weak growth reflects the present difficult economic times. Although there appears to be small signs of economic recovery, there is nothing to suggest that sales for our existing stores will increase in the next months. Earnings before depreciation, financial expenses and taxes reached $647,000, compared with $2.2_million for the first three months of 1995. Net loss for the first quarter was $1.2_million (or $0.11 per share) compared to net earnings of $352,000 (or $0.03 per share) in the first quarter of 1995. Working capital used in operating activities consumed con·sume v. con·sumed, con·sum·ing, con·sumes v.tr. 1. To take in as food; eat or drink up. See Synonyms at eat. 2. a. $503,000 (or $0.05 per share) compared to cash flow of $1.6 million (or $0.14 per share) in the first quarter of 1995. During the quarter, ten stores were renovated in order to enlarge TO ENLARGE. To extend; as, to enlarge a rule to plead, is to extend the time during which a defendant may plead. To enlarge, means also to set at liberty; as, the prisoner was enlarged on giving bail. the space used for computer products and services and home-theater showrooms. As at March_31, 1996, the Adventure network was comprised of 151 boutiques, maxi-boutiques and superstores This is a list of superstores by country. Multi-national
1996 Outlook Adventure Electronics is prepared for the challenges posed pose 1 v. posed, pos·ing, pos·es v.intr. 1. To assume or hold a particular position or posture, as in sitting for a portrait. 2. To affect a particular mental attitude. by the difficult economic climate. The Company is confident that, with its dynamic merchandising merchandising Element of marketing concerned especially with the sale of goods and services to customers. One aspect of merchandising is advertising, which aims to capture the interest of the segment of the population most likely to buy the product. and marketing strategies and the efficient management of its activities, it will increase its profitability while maintaining its established level of customer service. -0- Adventure Electronics Inc. Financial Highlights - Statement of Earnings (unaudited)
(in thousands of dollars, For the three months
except for earnings per share) ended March 31,
1996 1995
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Sales $58,575 $57,795 Earnings before depreciation, financial expenses and income taxes 647 2,228 Net earnings (loss) (1,157) 352
Net earnings (loss) per share $(0.11) $0.03
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Weighted average number of shares outstanding 10,833,776 10,882,176 CONTACT: Adventure Electronics Inc. Robert Robert, Henry Martyn 1837-1923. American army engineer and parliamentary authority. He designed the defenses for Washington, D.C., during the Civil War and later wrote Robert's Rules of Order (1876). Noun 1. Fragman, 514/352-5000 |
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