Algo Group Reports Increased Third Quarter Profit.MONTREAL--(BUSINESS WIRE)--Nov. 11, 1997--ALGO GROUP INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (ME:AO.A.) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :AO.A.) For the third quarter ended September 30, 1997, Algo Group Inc. reported net earnings increased 16 percent to $4.68 million or $0.23 per share, $0.15 fully diluted, compared to $4.04 million or $0.20 per share, $0.13 fully diluted. Sales for the quarter were $68.6 million, compared to $64.9 million for the corresponding period a year ago. Net earnings for the nine months were $3.05 million or $0.15 per share, $0.10 fully diluted, compared to $3.04 million or $0.15 per share, $0.10 fully diluted. Sales amounted to $147.4 million, compared to $154.3 million for the nine months last year. The number of shares outstanding were 20,394,892. "We are continuing to achieve important objectives through advancements in technology and in the consolidation of operations throughout the company. As well, much attention has been devoted to the positioning of our brands," stated Algo President, Jack Wiltzer. "As we approach year end, we remain confident that we will meet the earnings growth we have been projecting for fiscal 1997." Algo Group is the leading Canadian manufacturer and importer of ladies', men's and children's fashion apparel which is marketed throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . The company also markets dresses in Europe. As well, Algo designs and imports fashion fabric marketed through North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. apparel manufacturers and retail outlets. Company shares trade publicly on both the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. and the Montreal Exchange Montreal Exchange A Canadian derivatives exchange that facilitates the trading of stock options, interest rate futures and options, as well as index options and futures. Located in Montreal, Quebec, it is the country's main financial derivative market, while the Winnipeg under the symbol AO.A. CONTACT: ALGO GROUP INC. Jack Wiltzer, 514/382-1240 or Maison Brison Rick Leckner, 514/731-0000 |
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