CORRECTION FROM SOURCE: Perfect Fry Becomes Debt Free.Business Editors & Food/Health Writers CALGARY Calgary (kăl`gərē), city (1991 pop. 710,677), S Alta., Canada, at the confluence of the Bow and Elbow rivers. The largest city in Alberta and the fastest-growing major city in Canada, Calgary is a corporate, transportation, and financial , Alberta--(BUSINESS WIRE)--Sept. 20, 2002 Please note that the company has made a correction to the news release transmitted earlier today for Perfect Fry Corporation. The original release reads "Third Quarter Results 2002 and 2001: ($'000's of dollars, except number of shares)" in the title of paragraph five. Correct wording, as shown below, is "Third Quarter Results 2002 and 2001". The complete and corrected press release follows. Perfect Fry Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:PNM PNM Public Service Company of New Mexico PNM People's National Movement (Trinidad) PNM Perpustakaan Negara Malaysia (National Library, Malaysia) PNM Price Negotiation Memorandum ) reported today it continued to experience strong revenue and earnings during the third quarter, enabling the Company to retire its bank debt, leaving the Company entirely debt free. Revenue for the quarter, ended July July: see month. 31, was $858,426, compared with $695,469 for the third quarter last year. Net earnings for the quarter this year were $35,980, compared with a loss of $51,519 for the third quarter of 2001. Revenue for the first nine months of 2002 totaled $2,662,343, bringing net earnings to $133,188. This compares with revenue for the first nine months last year of $1,940,517 and a loss for that period of $44,997. "What a great feeling it is to be entirely debt free," said Gary Calderwood, Perfect Fry's President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . He added that the growth in revenue and earnings are primarily the result of the top quality sales and service network the Company has been carefully building for the past several years to support its advanced products and its customers around the world. "We have the best products in the world and they are being purchased by the best customers any company could ever hope for," he added. "In my opinion, both deserve the best sales and support network we can possibly provide."
Third Quarter Results 2002 and 2001
Three months Nine months
ended July 31 ended July 31
2002 2001 2002 2001
Revenue $858,426 $695,469 $2,662,343 $1,940,517
Earnings/(Loss) $ 35,980 ($51,519) $ 133,188($ 44,997)
Earnings/(Loss)
Per Share $0.01 $0.00 $0.00 $0.00
As at July 31, 2002, the Company had 9,788,656 common shares issued and outstanding. Perfect Fry manufactures and markets the world's most sophisticated counter-top deep fryer deep fryer n. An appliance used for deep-frying food. . Its patented air filtration filtration: see sewerage; water supply. Filtration The separation of solid particles from a fluidsolids suspension of which they are a part by passage of most of the fluid through a septum or membrane that retains most of the solids and fire prevention systems, compact design, and quick, clean operation have made the Perfect Fryer a preferred choice among fast food retailers around the world. The common shares of Perfect Fry are listed 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 PNM. The TSX Venture Exchange has neither approved nor disapproved of the information contained herein. |
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