Besicorp Group announces first quarter '96 results.KINGSTON Kingston, city, Canada Kingston, city (1991 pop. 56,597), S Ont., Canada, on Lake Ontario, near the head of the St. Lawrence River and at the end of Rideau Canal from Ottawa. Kingston has probably the best harbor on the lake. , N.Y.--(BUSINESS WIRE)--Aug. 15, 1995--Besicorp Group Inc. (AMEX AMEX See: American Stock Exchange Emerging Company Marketplace-BGI.EC), announced today results for the three-month period ended June June: see month. 30, 1995. These results, shown with the comparable period from the prior fiscal year, are summarized as follows: -0-
Three Months Ended June 30,
1995 1994
Revenues $ 1,432,933 $1,800,505 Net Loss (45,121) (366,497) Loss per common share (.02) (.12) Weighted number of shares outstanding (in thousands) 2,989 3,097 According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Vice President, Chief Financial Officer, Michael J. Daley, "Due to the nature of the project development business, quarterly results of operations may fluctuate significantly. During the period ended June 30, 1995, the company recorded income from partnerships of approximately $982,000, up from $290,000 for the comparable prior period, and development and management fees of approximately $68,000, down from $221,000. Partnership cash distributions increased to $1,153,000 from $865,000. "The company continues to invest in technology development, particularly in the solar electric business. Almost all of the costs associated with these development activities, as well as a significant portion of the costs of project development activities, are expensed on a current basis." Besicorp specializes in the development of independent power projects and energy technologies. CONTACT: Besicorp Group Inc., Kingston Patrice Courtney - Corporate Communications Corporate communications is the process of facilitating information and knowledge exchanges with internal and key external groups and individuals that have a direct relationship with an enterprise. Karen A. Keator - Investor Relations Investor relations The process by which the corporation communicates with its investors. , 914/336-7700 |
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