Automodular Corporation 2003 Earnings Guidance.Business Editors TORONTO--(BUSINESS WIRE)--Jan. 26, 2004 Automodular Corporation ("Automodular") announces that it expects to report net earnings of approximately $3.7 million or $0.19 per share (unaudited) for the year ended December 31, 2003 on sales of $108 million. This compares to net earnings of $4.6 million or $0.25 per share in 2002 on sales of $56 million. The fourth quarter shows net earnings of approximately $0.7 million or $0.03 per share. This compares to net earnings of $0.4 million or $0.02 per share in the same period in 2002. The current year's results were negatively affected by the strong rise in the Canadian dollar Noun 1. Canadian dollar - the basic unit of money in Canada; "the Canadian dollar has the image of loon on one side of the coin" loonie dollar - the basic monetary unit in many countries; equal to 100 cents , which reduced the net earnings contribution from profitable U.S. operations when expressed in 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. currency. Production of Saturn vehicles assembled as·sem·ble v. as·sem·bled, as·sem·bling, as·sem·bles v.tr. 1. To bring or call together into a group or whole: assembled the jury. 2. in Wilmington, Delaware Wilmington is the largest city in the state of Delaware and is located at the confluence of the Christina River and Brandywine Creek, near where the Christina flows into the Delaware River. was well below expectations resulting in losses at Automodular's Delaware operations. The power blackout A complete loss of power. See brownout. in August also affected operating performance, shutting down all but one of Automodular's plants. Automodular has scheduled disclosure of its audited financial results for 2003 on or about March 15, 2004. The Company has several strategic initiatives underway and when considered in conjunction with the uncertainty associated with the Delaware operations has decided to omit o·mit tr.v. o·mit·ted, o·mit·ting, o·mits 1. To fail to include or mention; leave out: omit a word. 2. a. To pass over; neglect. b. the first quarter dividend. Automodular will review the issue of dividends at its April board meeting. |
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