BW Reports Strongest Quarterly Revenues Ever.Business Editors 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)--Dec. 5, 2001 BW Technologies Ltd. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BWT BWT Burrows Wheeler Transform (compression technology) BWT Boundary Waters Treaty (United States and Canada) BWT Basic Warrior Training BWT Bronchial Wall Thickness BWT Big White Truck .), a manufacturer of gas detection equipment for global safety, today announced net earnings of $963,000 ($0.17 per share) for the three months ended October October: see month. 31, 2001, an increase of 130% over the $418,000 ($0.08 per share) reported last year. Revenue during the current quarter reached $9,341,000, which is 54% above the prior year's second quarter figure. Earnings for the six months ended October 31, 2001 were $1,650,000 ($0.29 per share) or 133% above last year's figure of $708,000 ($0.13 per share). Current half-year revenues were $17,367,000 or 51% above last year. "Despite the economic slow-down, revenues for the current quarter were the highest in the company's history with all geographic regions showing strong results," says Cody Slater slat·er n. 1. One employed to lay slate surfaces, as on roofs. 2. See pill bug. 3. See sow bug. Noun 1. , BW's President and Chief Executive Officer. "This positions us to achieve another record year as we head into our third and fourth quarters which are traditionally our strongest."
Income Statements (Un-audited)
Three months ended Six months ended
October 31 Percent October 31 Percent
2001 2000 Change 2001 2000 Change
---- ---- ---- ----
Revenue $9,341,000 $6,061,000 +54% $17,367,000 $11,494,000 +51%
Cost of
sales 4,517,000 3,334,000 8,743,000 6,398,000
--------------------- -----------------------
Gross
margin 4,824,000 2,727,000 +77% 8,624,000 5,096,000 +69%
--------------------- -----------------------
Expenses
Selling,
general &
Administ-
rative 2,876,000 1,744,000 +65% 5,239,000 3,331,000 +57%
Amortization
of product
development
costs 314,000 302,000 627,000 603,000
Interest 2,000 15,000 4,000 25,000
--------------------- -----------------------
3,192,000 2,061,000 5,870,000 3,959,000
--------------------- -----------------------
Net income
before
tax 1,632,000 666,000 +145% 2,754,000 1,137,000 +142%
Income
taxes (669,000) (248,000)+170% (1,104,000) (429,000)+157%
--------------------- -----------------------
Net Income 963,000 418,000 +130% 1,650,000 708,000 +133%
--------------------- -----------------------
Earnings per share
-Basic .17 .08 +113% .29 .13 +123%
-Fully
Diluted .16 .08 +100% .28 .13 +115%
Earnings
before
interest,
taxes,
depreciation
and
amorti-
zation 2,140,000 1,119,000 +91% 3,755,000 2,038,000 +84%
Cash flow 1,304,000 895,000 +46% 2,538,000 1,602,000 +58%
Cash flow
per share .23 .16 +44% .45 .29 +55%
About BW Technologies The company has been designing and manufacturing a full range of gas detection equipment since 1987. Fiscal 2001 earnings amounted to $2,844,000 ($0.51 per share) and revenues were $27.8 million. BW Technologies manufactures all of its instruments in Calgary and employs 162 people worldwide. Today the company has more than 600 global distributor locations for its safety instruments that detect hazardous gases in industrial and commercial environments. Clients that currently use BW products include: Cities of Chicago, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Montreal, Shell, Mobil, Georgia Georgia, country, Asia Georgia (jôr`jə), Georgian Sakartvelo, Rus. Gruziya, officially Republic of Georgia, republic (2005 est. pop. 4,677,000), c.26,900 sq mi (69,700 sq km), in W Transcaucasia. Pacific, US Coast Guard and the Paris Fire Brigade
The Paris Fire Brigade (French Brigade des Sapeurs-Pompiers de Paris . BW Technologies is a public company trading on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors BWT with offices in Europe, America and Canada. BW Technologies will be hosting its quarterly webcast event on Wednesday, December 12 at 2:00 p.m. MST See micro systems technology. . The webcast will be accessible from www.gasmonitors.com at that time. The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein. |
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