Ag-Bag International Limited Announces Strong 2nd Quarter.WARRENTON, Ore.--(BUSINESS WIRE)--July 17, 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 sales for the second quarter ended June 30, 1998 were $9,649,103. This was an increase of 20.21% over the second quarter of last year. Net income was $766,304 for the quarter just ended compared to $572,360 for the same period of last year, an increase of 33.88%. Earnings for the quarter were $.06 per share, up $.01 from the $.05 per share the second quarter of 1997. Sales for the first half of 1998 were $14,366,764 an increase of 33.22% over $10,784,058 for the first half of 1997. Earnings were $.06 per share, up $.04 from the $.02 per share for the first half of 1997. Regarding the second 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 quarter were up as a result of the stabilizing milk prices and lower feed costs (grain) which spurred capital expenditures for machinery and equipment. Recent university research articles published on the benefits of bagging over the use of bunkers has also helped to increase sales, as farmers are realizing the benefits of bagging their feed instead of storing it in bunkers or 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 ." Mr. Inman went on to say "machine and bag sales for the second quarter were up over 15% compared to the second quarter of 1997. Additionally, the environmental division of the Company sold several composting systems The following page contains a list of different composting systems: Home composting
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 Blair is a city in Washington County, Nebraska, USA. It is the county seat of Washington CountyGR6. The 2005 population estimate set the city of Blair at 7,781. Geography Blair is located at (41. . 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 Mike Wallis, 800/334-7432 |
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