Besicorp Ltd. Announces Third Quarter Fiscal 2000 Results.Business Editors 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)--Feb. 17, 2000 BESICORP LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability . (the &uot;Company&uot;) announced today results for the three and nine months ended December December: see month. 31, 1999. The unaudited financial results, shown with the comparable period from the prior fiscal year, are summarized as follows:
Three Months Ended December 31,
(Unaudited)
1999 1998
Revenues $ 2,120,206 $ 1,399,333
Loss Before Income Taxes $ (941,532) $(1,828,797)
Net Loss $ (943,620) $(1,201,097)
Basic and Diluted Loss per
Common Share $ (6.94) $ (9.90)
Basic and Diluted Weighted Average
Number of Shares 135,982 121,382
Nine Months Ended December 31,
(Unaudited)
1999 1998
Revenues $ 6,602,213 $ 3,777,181
Loss Before Income Taxes $(3,433,288) $(6,064,686)
Net Loss $(3,449,310) $(4,002,686)
Basic and Diluted Loss per
Common Share $ (25.76) $ (32.98)
Basic and Diluted Weighted Average
Number of Shares 133,899 121,382
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. James James, person in the Bible James, in the Gospel of St. Luke, kinsman of St. Jude. The original does not specify the relationship. James, rivers, United States James. E. Curtin, Vice President and Controller, &uot;The increase in revenues in the three and nine months ended December 31, 1999 from the corresponding periods in the prior year represents an increase in photovoltaic The generation of voltage by a material that is exposed to light in the visible and invisible ranges. See photoelectric and photovoltaic cell. product sales. The resulting increase in gross margin combined with decreases in selling, general and administrative expenses, resulted in a loss before income taxes for the three and nine months ended December 31, 1999 that was less than the loss before income taxes in the comparable prior year periods. No assurance can be given that revenues or gross margins will remain at current levels. As previously announced, the Company has entered into an agreement and plan of merger with an entity controlled by the Company's President and Chief Executive Officer, Michael F. Zinn. Consummation CONSUMMATION. The completion of a thing; as the consummation of marriage; (q.v.) the consummation of a contract, and the like. 2. A contract is said to be consummated, when everything to be done in relation to it, has been accomplished. of this merger is subject to the satisfaction of a number of conditions.&uot; Besicorp specializes in the development, assembly, manufacturing, marketing and resale resale n. selling again, particularly at retail. In many states a "resale license" or "resale number" is required so that the state can monitor the collection of sales tax on retail sales. RESALE. of photovoltaic products and systems and the development of power plant projects. Certain statements contained in this press release may be deemed forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Such statements, and other matters addressed in this press release, involve a number of risks and uncertainties. Among the factors that could cause actual plans to differ materially from these statements and other matters are the risks and other factors detailed, from time to time, in the Company's reports with the U.S. Securities and Exchange Commission. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion