BOVAR REPORTS EARNINGS.CALGARY Calgary (kăl`gərē), city (1991 pop. 710,677), S Alta., Canada, at the confluence of the Bow and Elbow rivers. The largest city in Alberta and the fastest-growing major city in Canada, Calgary is a corporate, transportation, and financial , Alberta--(BUSINESS WIRE)--July, 31 1995--
Three Months Ended Six Months Ended
June 30 June 30
------------------- -----------------
1995 1994 1995 1994
---- ---- ---- ----
(thousands of dollars except per share data)
Revenue $24,253 $19,552 $44,509 $34,406 Net Income 1,714 1,592 3,187 2,021 Net Income Per Common Share 0.02 0.02 0.04 0.03 Cash Generated From Continuing Operations 5,398 4,114 10,229 6,459 Cash Generated From Operations 5,398 3,900 10,229 6,147 Weighted Average Number of Shares Outstanding (thousands) 81,998 78,093 81,892 73,568 BOVAR reported net income of $1.7 million ($0.02 per share) for the three months ended June June: see month. 30, 1995, compared to $1.6 million ($0.02 per share) for the same period in 1994. BOVAR's revenues for the second quarter of 1995 were $24.3 million compared to $19.6 million in the second quarter of 1994. The 24 percent increase reflects increased revenues from the waste treatment facility near Swan Hills, Alberta Swan Hills is a town (incorporated January 1, 1967) in northern Alberta, Canada. It is located km ( mi) north of Whitecourt at the junction of Highway 32 and Grizzly Trail. Swan Hills is located in Municipal District of Big Lakes within census Division No. 17, Alberta. and increased sales of the Company's Engineered Products in Europe and Asia. Cash provided from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the increased 31 percent to $5.4 million from $4.1 million in the second quarter of 1994. For the six months ended June 30, 1995, BOVAR reported net income of $3.2 million ($0.04 per share) compared to $2.0 million ($0.03 per share) in 1994. This increase is largely due to increased revenues from the Alberta Special Waste Management System (ASWMS) partially offset by lower revenues in the Engineered Products segment. In July, regulatory approvals for the transportation of waste from and through Ontario were granted. This will allow ASWMS to receive waste from Eastern Canada Eastern Canada (also the Eastern provinces) is the region of Canada generally considered to be east of Manitoba, consisting of the following provinces:
BOVAR has entered into a Letter of Intent with respect to continuing negotiations to acquire the Province of Alberta's 40 percent interest in ASWMS. BOVAR Inc. provides environmental and waste management services internationally. BOVAR operates and is 60 percent owner of Canada's only fully integrated hazardous waste Hazardous waste Any solid, liquid, or gaseous waste materials that, if improperly managed or disposed of, may pose substantial hazards to human health and the environment. Every industrial country in the world has had problems with managing hazardous wastes. treatment facility which is located near Swan Hills, Alberta. BOVAR conducts its environmental operations through Chem-Security (Alberta) Ltd., BOVAR Engineered Products, BOVAR-CONCORD Environmental and BOVAR Biomedical bi·o·med·i·cal adj. 1. Of or relating to biomedicine. 2. Of, relating to, or involving biological, medical, and physical sciences. Services Inc. CONTACT: Monty (programming, abuse) monty - /mon'tee/ Any program with a ludicrously complex user interface that performs a trivial task. An example would be a menu-driven, button clicking, pulldown, pop-up windows program for listing directories. L. Davis 403/235-8302 or Daryl W. Ferko 403/235-8329 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion