CFS International Inc.: 2004 Fiscal Year Financial Results.TORONTO -- CFS CFS abbr. chronic fatigue syndrome CFS, n.pr See syndrome, chronic fatigue. CFS Chronic fatigue syndrome, see there International Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:CFY CFY Clinical Fellowship Year (often used in speech-language pathology education/jobs) CFY Current Fiscal Year CFY Contractor Fiscal Year CFY Company Fiscal Year ) announces that the consolidated net earnings of the Company for the year ended December 31, 2004 were $4,968,655, or $0.14 per share, as compared to $23,965,088, or $0.65 per share, for the year 2003. Consolidated sales increased by 12.2% to $113.9 million in 2004, compared with $101.5 million in 2003. Excluding the one-time $18.4 million Dilution Gain to the Company's shareholders for a successful initial public offering of a subsidiary's shares on the Hong Kong Stock Exchange The Hong Kong Stock Exchange (Traditional Chinese: 香港交易所, also 港交所; abbreviated as HKEX; HKSE: 0388 ) is the stock exchange of Hong Kong. in 2003, the earnings from regular operations decreased by 10.2% from $5.5 million in 2003 to $5.0 million in 2004. Net earnings from the China/Hong Kong operations improved by 19.9% from $7.6 million in 2003 to $9.1 million in 2004, but the loss in the North American operations worsened by doubling the amount from $2.1 million in 2003 to 4.1 million in 2004 largely due to the startup costs in developing the North American market, particularly the U.S.A. CFS International Inc., through its subsidiaries, operates the largest upscale fashion wear retail chain in China under the "Ports International" and "BMW BMW in full Bayerische Motoren Werke AG German automaker. Founded as an aircraft engine manufacturer in 1916, the company assumed the name Bayerische Motoren Werke and became known for its high-speed motorcycles in the 1920s. " banners. The Company's other operations also include retailing in Hong Kong and Canada, and trading, manufacturing and wholesaling of private label and fashion garments in Canada, China and Hong Kong. The Company's shares are traded on the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. under the symbol "CFY". The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this press release. CFS INTERNATIONAL INC. (TSX VENTURE:CFY) |
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