Armbro Enterprises Inc. Third Quarter Financial Results.BRAMPTON, ONTARIO--(BUSINESS WIRE)--Nov. 21, 1996--ARMBRO (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). ARE.) Armbro is pleased to report that revenues for the nine months ended September 30, 1996 were $167,302,000, providing for net income for the period of $8,032,000 or $1.05 per share ($0.80 fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. ). This compares to revenues of $125,533,000 and net income of $13,522,000 or $2.27 per share ($1.33 fully diluted) for the same period last year. Last year's figures include $8,355,000 of income from non-operating activities, specifically a $7,242,000 gain from debt forgiveness and a $1,113,000 gain from the disposal of an investment. Net income for the period includes a $980,000 charge taken for the decline in the value of real estate, which results from the Company having entered into an agreement to dispose of To determine the fate of; to exercise the power of control over; to fix the condition, application, employment, etc. of; to direct or assign for a use. See also: Dispose its non-strategic ownership of an income producing property in Mississauga. Armbro's strong financial results for the period reflect an improvement in revenues and margins resulting from the increased capital spending capital spending Spending for long-term assets such as factories, equipment, machinery, and buildings that permits the production of more goods and services in future years. program of the Ministry of Transportation of Ontario for the current year. These results also reflect the continued successful progress toward completion of Highway 407 in Ontario and Highway 104 in Nova Scotia Nova Scotia (nō`və skō`shə) [Lat.,=new Scotland], province (2001 pop. 908,007), 21,425 sq mi (55,491 sq km), E Canada. Geography . Armbro, through its 25 percent interest in Canadian Highways International Corporation, continues to pursue opportunities for Public-Private Partnerships Public-private partnership (PPP) describes a government service or private business venture which is funded and operated through a partnership of government and one or more private sector companies. These schemes are sometimes referred to as PPP or P3. in infrastructure development, in Canada and abroad, in addition to its existing contracts for the development, design, construction and operation and maintenance of Highway 407 in Ontario and Highway 104 in Nova Scotia. CONTACT: Armbro Enterprises Inc. Shirley Duffy, 905/454-3737 |
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