Amisk Inc. - Results for the First Six Months.JONQUIERE, Quebec--(BUSINESS WIRE)--Aug. 29, 1997--(ME AS.A.) Corporation regionale d'investissement Amisk Inc. has announced its results for the second quarter ended June 30, 1997. President Michel Belley noted that, since January 1, 1997, the Corporation had adopted the proportionate consolidation method to account for its investment in the Sodexfor limited partnership. Results In the second quarter, the Corporation posted an operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. of $391,042 before expenses related to the takeover bid Noun 1. takeover bid - an offer to buy shares in order to take over the company two-tier bid - a takeover bid where the acquirer offers to pay more for the shares needed to gain control than for the remaining shares , which add $235,239 to the net operating loss, for a total of $626,281 ($0.07 per share), compared with a net profit of $851,898 ($0.10 per share) for the same period of 1996. For the first six (6) months of 1997, the Corporation posted an operating loss of $688,364 before expenses related to the takeover bid, which add $428,905 to the net operating loss, for a total of $1,117,269 ($0.13 per share), compared with a net profit of $1,886,380 ($0.22 per share) for the same period of 1996. These results can be attributed to the takeover bid (fully posted to expenses in the first six months) and partly to the market price of oriented strand board Oriented strand board, or OSB, or waferboard, or Sterling board (UK), is an engineered wood product formed by layering strands (flakes) of wood in specific orientations. (OSB OSB abbr. Order of Saint Benedict ), which has slumped since January 1997. These two factors combined account for the variances from last year. Panneaux Chambord Inc. (PCI (1) (Payment Card Industry) See PCI DSS. (2) (Peripheral Component Interconnect) The most widely used I/O bus (peripheral bus). ) The improvements made over the past three years, including the changes introduced last March and April, should increase annual production capacity to over 400,000 cubic metres. Moreover, last June, plant management and employees signed a new labour contract, which expires in June 2001. Panneaux Chambord Inc. still ranks among the companies in its industry with the lowest production costs in 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 increase in capacity should make this advantage even more significant. MDF (1) (Main Distribution Frame) A wiring rack that connects outside lines with internal lines. It is used to connect public or private lines coming into the building to internal networks. La Baie La Baie (lə bī), city (1991 pop. 20,995), S Que., Canada, on Ha! Ha! Bay, an arm of the Saguenay River. Formed by the amalgamation of Bagotville, Port Alfred, and the parishes of Grande-Baie and Bagotville, La Baie has a natural harbor that Inc. MDF La Baie Inc. is now in the pre-start-up phase with commercial production scheduled to begin in January 1998. The cost of building and putting the plant into operation are estimated at $124 million. At present, construction is 90 percent complete and costs are within budget. Acquisition of Scierie E. Tremblay On May 26, 1997, the Sodexfor limited partnership acquired Scierie E. Tremblay, which specializes in producing softwood softwood Timber obtained from coniferous trees (mainly of the pine and fir families). With the exception of bald cypress, tamarack, and larch, softwood trees are evergreens. lumber. These products will eventuall fill the demand for processed wood from contractors affiliated with Soccrent-Sodexfor-Amisk. Historically, the sawmill sawmill, installation or facility in which cut logs are sawed into standard-sized boards and timbers. The saws used in such an installation are generally of three types: the circular saw, which consists of a disk with teeth around its edge; the band saw, which has earned a substantial profit and the market outlook puts its directors in a position to consider several proposals for improving profitability in the coming years.
Financial Highlights
06/30/97 06/30/96
(6 months) (6 months)
Consolidated
REVENUE $4,274,570
EXPENSES $5,138,445
NET OPERATING PROFIT (LOSS)
BEFORE UNUSUAL ITEMS $(863,875)
TAKEOVER BID EXPENSES $428,905
NET OPERATING PROFIT (LOSS)
AFTER UNUSUAL ITEMS
AND BEFORE TAXES $(1,292,780)
DEFERRED INCOME TAX $175,511
NET PROFIT (LOSS) PER SHARE $(0.13) $0.22
BOOK VALUE PER SHARE $2.70 $2.72
CONTACT: Corporation Regionale d'Investissement Amisk Inc. Michel Belley, 418/ 690-7021 (418) 546-1156, ext. 235 or Corporation Regionale d'Investissement Amisk Inc. Marc Lalancette, 418/ 546-1155, ext. 229 |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion