CLEARLY CANADIAN BEVERAGE CORPORATION ANNOUNCES RESULTS FOR YEAR ENDED DECEMBER 31, 1994.VANCOUVER Vancouver, city, Canada Vancouver, city (1991 pop. 471,844), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver Island and just N of the Wash. border. , BC--(BUSINESS WIRE)--April 21, 1995--The Company recorded sales of $63,299,000 for the twelve months ending December December: see month. 31, 1994 compared to $90,869,000 during the twelve month period ending December 31, 1993. The net loss for the year ended December 31, 1994 was $4,016,000 or $0.27 per share compared to a $293,000 net profit or $0.02 per share for the comparative period last year. The net loss is inclusive of inclusive of prep. Taking into consideration or account; including. 1994 restructuring charges restructuring charge The expense of reorganizing a company's operations. A restructuring charge is an infrequent expense that generally results from asset writedowns or facility closings. of $4,162,000 compared with 2,249,000 in 1993. ON BEHALF OF THE BOARD OF DIRECTORS D. BRUCE Bruce, Scottish royal family descended from an 11th-century Norman duke, Robert de Brus. He aided William I in his conquest of England (1066) and was given lands in England. HORTON Horton, river, c.275 mi (440 km) long, rising in a lake N of Great Bear Lake, Northwest Territories, Canada, and flowing NW to Franklin Bay, a part of the Beaufort Sea. , DIRECTOR -0- CLEARLY CANADIAN BEVERAGE CORPORATION CONSOLIDATED STATEMENT OF EARNINGS For the years ended DECEMBER 31, 1994 AND 1993 (Stated in thousands of U.S. Dollars)
1994 1993
$ $
SALES 63,299 90,869
COST OF SALES 47,699 69,012
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GROSS PROFIT 15,600 21,857
SELLING, ADMINISTRATIVE AND GENERAL EXPENSES 19,446 19,075
OTHER INCOME (978) (451)
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EARNINGS (LOSS) BEFORE THE
FOLLOWING (2,868) 3,233
RESTRUCTURING CHARGES 4,162 2,249
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EARNINGS (LOSS) BEFORE
INCOME TAXES (7,030) 984
INCOME TAXES (REFUNDABLE) (3,014) 691
NET EARNINGS (LOSS) FOR THE YEAR (4,016) 293
-------- --------
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EARNINGS (LOSS)
PER SHARE (0.27) 0.02
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CLEARLY CANADIAN BEVERAGE CORPORATION CONSOLIDATED BALANCE SHEET As at DECEMBER 31, 1994 AND 1993 (Stated in U.S.Dollars)
1994 1993
$ $
ASSETS
CURRENT
Cash and short-term investments 9,323 18,008
Accounts receivable 4,944 9,145
Inventories 6,129 8,687
Prepaid expenses and deposits 2,978 4,159
Corporate income taxes refundable 2,902 nil
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26,276 39,999
LONG TERM INVESTMENTS 612 nil
DISTRIBUTION RIGHTS 803 nil LONG-TERM RECEIVABLES 2,977 3,390
PROPERTY, PLANT AND EQUIPMENT 5,297 3,957
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35,965 47,346
---------- -----------
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LIABILITIES
CURRENT
Bank loan nil nil
Accounts payable and
accrued liabilities 3,929 7,737
Corporate income taxes payable nil 103
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3,929 7,840
DEFERRED LEASE INDUCEMENT 291 361
CAPITAL LEASE OBLIGATIONS nil 4
----------- ----------
4,220 8,205
----------- ----------
SHAREHOLDERS' EQUITY SHARE CAPITAL Issued and outstanding- 13,966,055 Common Shares without par value (1993 - 14,441,055) 35,636 39,008
RETAINED EARNINGS (DEFICIT) (3,891) 133
---------- -----------
31,745 39,141
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35,965 47,346
----------- -----------
----------- -----------
CLEARLY CANADIAN This article or section needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. BEVERAGE CORPORATION is the registered holder of the trademark "Clearly Canadian(R)". CLEARLY CANADIAN BEVERAGE CORPORATION, and its wholly owned international subsidiary, Clearly Canadian Beverage (International) Corporation, produce, distribute, and market CLEARLY CANADIAN(R), CLEARLY TEA(TM), and CLEARLY 2(TM), a line of flavoured adj. 1. same as flavored; - of foods. and unflavoured sparkling water beverages. Through distribution and/or and/or conj. Used to indicate that either or both of the items connected by it are involved. Usage Note: And/or is widely used in legal and business writing. licensing agreements, CLEARLY CANADIAN(R) is sold throughout the 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. , Canada Canada (kăn`ədə), independent nation (2001 pop. 30,007,094), 3,851,787 sq mi (9,976,128 sq km), N North America. Canada occupies all of North America N of the United States (and E of Alaska) except for Greenland and the French islands of , Japan, and the United Kingdom, the Republic of Ireland Ireland, Irish Eire (âr`ə) [to it are related the poetic Erin and perhaps the Latin Hibernia], island, 32,598 sq mi (84,429 sq km), second largest of the British Isles. , the Caribbean and Mexico Mexico, city, Mexico Mexico or Mexico City, Span. Ciudad de México (Méjico), city (1990 pop. 8,236,960; 1991 met. area est. 20,899,000), central Mexico, capital and largest city of Mexico. . The Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release was prepared by management who accept full responsibility for its content. CONTACT: D. Bruce Horton, Director (604) 683-0312 |
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