Airboss of America Corp. 1st Quarter Results March 31, 1996.MISSISSAUGA, Ontario--(BUSINESS WIRE)--April 30, 1996--Airboss of America (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BOS) Sales increased by over 200 percent in comparison with the first quarter of 1995. Tire sales to O.E.M. manufacturers continues to increase which is indicative of the support the company's products have with this group. Sales of railway pads with additional reinforcement reinforcement /re·in·force·ment/ (-in-fors´ment) in behavioral science, the presentation of a stimulus following a response that increases the frequency of subsequent responses, whether positive to desirable events, or were also very strong in the first quarter. Gross margin improved significantly as the benefits of company owned production are now being realized. Improved rubber prices as a result of re-sourcing raw materials for certain automotive parts and improved production methods have also contributed to the improved profitability. The company plans to increase manufacturing capacity and commence production of the first sizes of earthmoving, trencher, forklift and irrigation irrigation, in agriculture, artificial watering of the land. Although used chiefly in regions with annual rainfall of less than 20 in. (51 cm), it is also used in wetter areas to grow certain crops, e.g., rice. pivot tires in the second and third quarters of 1996. The potential of the rear backhoe tire is only just beginning to be realized. This tire has exceeded expectations in field performance since its introduction in the fall of 1995.
1996 1st Quarter
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1996 1995
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Sales $ 4,824,150 $ 1,602,618 Gross Profit 1,446,301 362,647 Net Income for $ 502,297 $ (383,732) the period Earnings per share $ 0.012 $ (0.010) AirBoss of America holds the exclusive North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. rights to design, manufacture and market puncture-free AirBoss non-pneumatic tires for industrial and off-road equipment. AirBoss common shares are listed for trading 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." -0- NOTE: The company's news releases are now available through Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. Corporate News' Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the Home Page: http://www.cdn-news.com CONTACT: AirBoss of America Corp. Robert L. Hagerman, 905/564-6688 616/637-6356 905/564-6660 (Fax) |
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