Brampton Brick Limited announces second quarter results.BRAMPTON Brampton, city (1991 pop. 234,445), S Ont., Canada, NW of Toronto. Incorporated as a village (1852), a town (1873), and then a city (1976), it is noted for its greenhouses and flowers. Automobiles, shoes, lumber, optical goods, and other products are made. , Ontario--(BUSINESS WIRE)--Aug. 15, 1996--BRAMPTON BRICK LIMITED (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). ,ME:BBL "Be back later." See digispeak. (chat) BBL - (I will) be back later. .A OTC BULLETIN BOARD OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :BMPAF) Brampton Brick Limited today reported net income of $784,000 (7 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. ) for the quarter ended June June: see month. 30, 1996, compared to $147,000 (1 cent per share) for the same period last year. Sales in the second quarter increased significantly following the settlement in mid-April of a lengthy bricklayers' strike in our major Ontario market area. Net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the second quarter are $7,433,000, representing an increase of $2,159,000 or 41 percent over the second quarter of 1995. The increase in sales also produced increased operating profits Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. - $1,621,000 in 1996 compared to $905,000 last year. For the six months ended June 30, the Company has reported a net loss of $1,170,000 (11 cents per share). Results for the first quarter were severely impacted by the bricklayers' strike noted above. In the first half of 1995 the Company reported net income of $2,706,000 (24 cents per share) including a gain of $3,937,000 (36 cents per share) on the sale of lands held for redevelopment. There is no similar item included in the 1996 results. Excluding this gain, the loss from the operating activities for the first six months of 1995 was $1,231,000. Net sales for the first half of 1996 are $9,265,000 compared to $8,106,000 last year and operating profit is $477,000 compared to $543,000 last year. Brampton Brick is Canada's second largest producer of clay brick and holds a 38.2 percent interest in one of the largest producers of concrete block in Ontario. The Company's products are used for residential construction and industrial, commercial and institutional building projects. The Company's 80 percent-owned subsidiary, Roxy Construction Co. Limited, provides trucking services to third parties in Ontario and eastern and mid-western United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . -0-
BRAMPTON BRICK LIMITED
SELECTED FINANCIAL INFORMATION
FOR THE PERIODS ENDED JUNE 30
(Thousands of dollars, except per share amounts)
Three Months Six Months
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1996 1995 1996 1995
---- ---- ---- ----
Net Sales $ 7,433 $ 5,274 $ 9,265 $ 8,106 Operating Profit $ 1,621 $ 905 $ 477 $ 543 Net Income (Loss) $ 784 $ 147 $(1,170) $ 2,706 Net Income (Loss) per Class A and B Share $ 0.07 $ 0.01 $ (0.11) $ 0.24 Weighted Average Class A and B Shares Outstanding (000's) 11,053 11,053 11,053 11,053 CONTACT: Brampton Brick Limited Ken Mondor, 905/840-1011 |
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