Ag-Bag International Limited Announces Improved 1st Quarter.WARRENTON, Ore.--(BUSINESS WIRE)--May 1, 1998--Ag-Bag International Limited (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :"AGBG") announced today that net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the first quarter ended March 31, 1998 were $4,717,661, an increase of 71.10% over the first quarter of last year. Net income was $25,003 for the quarter just ended compared to a net loss of $378,477 for the same period of last year. Earnings were up $.03 per share, to $.00 per share, for the first quarter of 1998 over 1997. Regarding the first quarter results, Ag-Bag International Limited 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. , Larry Inman, stated that "sales for the first quarter were up strongly on the stabilizing milk prices and lower grain feed costs which spurred farmer's purchases for machinery and equipment. Recent research articles published on the benefits of bagging over the use of bunkers and silos The Silos are a band formed by Walter Salas-Humara and Bob Rupe in New York City in 1985. Prior to starting the Silos, Walter played with The Vulgar Boatmen. With Salas-Humara emerging as the Silos' primary songwriter, the band put out the independently-released EP About Her Steps has helped to increase awareness of the benefits of the Ag-Bag system to farmers." Inman went onto say "We also introduced our new hydraulic finger controlled machine during the first quarter which brings the latest in bagging technology to farmer's. In addition, the environmental division sold one composting system for approximately $150,000 during the quarter to a municipality and has additional orders pending. The Company believes sales will remain strong in the second quarter of 1998 as the bagging season begins in earnest." Ag-Bag International Limited is a northwest company headquartered in Warrenton, Oregon Warrenton is a city in Clatsop County, Oregon, United States. The city is named for D.K. (Daniel Knight) Warren, an early settler. The population was 4,096 at the 2000 census. with a second major facility located in Blair, Nebraska. The Company, through its international operations, manufactures and sells to the agricultural industry its farm feed management systems for the high moisture storage of silage silage (sī`lĭj) or ensilage (ĕn`səlĭj), succulent, moist feed made by storing a green crop in a silo. The crop most used for silage is corn; others are sorghum, sunflowers, legumes, and grass. and grains. Recently, operations were expanded to provide services within the area of composting. CONTACT: Ag-Bag International Limited Dan Burdette, 800/334-7432 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion