AirBoss of America Corp. announces financial results.TORONTO--(BUSINESS WIRE)--May 12, 1997--AirBoss of America America [for Amerigo Vespucci], the lands of the Western Hemisphere—North America, Central (or Middle) America, and South America. The world map published in 1507 by Martin Waldseemüller is the first known cartographic use of the name. C (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BOS.) Toronto-based AirBoss of America Corp. reports sales of $12.3 million in the first quarter of 1997 - an increase of 155 percent over the same period last year. The increase for the three months ended March 31, 1997 reflects additional sales from AirBoss' recently acquired custom rubber mixing subsidiary in Kitchener, Ontario Coordinates: The City of Kitchener (IPA [ˈkɪ.tʃə.nɝ]) is a city in southwestern Ontario, Canada. . Net income was $519,000, up from the $502,000 reported in the first-quarter of 1996. AirBoss President Robert Hagerman expects margins to improve as the year progresses. "Net income over the first quarter represented a lower percentage of sales as result of the costs associated with assimilating as·sim·i·late v. as·sim·i·lat·ed, as·sim·i·lat·ing, as·sim·i·lates v.tr. 1. Physiology a. To consume and incorporate (nutrients) into the body after digestion. b. and growing the rubber mixing business and the training of new personnel to handle the growth anticipated for the rest of the year," Hagerman said. "As well, rail pad business was lower than in the corresponding quarter last year due to a shift in demand to later in the year." Sales and margins are expected to continue to grow as seasonal demand for tires and railway products increases, as sales of custom rubber in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. increase, and as new products become accepted in the market, Hagerman said. -0-
1997 1996
---- ----
($000)
Sales $12,326 $4,824
Gross Profit 1,629 1,466
Expenses 1,110 964
Net Income 519 502
EPS 0.012 0.012
EPS - fully diluted 0.008 N/A
Cash flow per share 0.019 0.015
AirBoss is a manufacturer of proprietary rubber molded mold 1 n. 1. A hollow form or matrix for shaping a fluid or plastic substance. 2. A frame or model around or on which something is formed or shaped. 3. Something that is made in or shaped on a mold. products, including the patented AirBoss tire and custom rubber compounds. AirBoss is traded 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 BOS. CONTACT: AirBoss of America Corp. Robert L. Hagerman, 416/368-BOSS (2677) 519/579-1234 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion