Canam Manac Reports A Net Income Of $55,562,000 For A 17% Increase.Business Editors BOUCHERVILLE, Quebec--(BUSINESS WIRE)--Feb. 21, 2001 The Canam Manac Group Inc. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CAMa.) of Ville de Saint-Georges Saint-Georges is the name or part of the name of several places and people People
In France Net income reached $55,562,000, or $1.61 per share, compared with $47,593,000, or $1.35 per share, in 1999, an increase of 17%. In the fourth quarter of 2000, net income totaled $17,272,000, or $0.51 per share, compared with $18,835,000, or $0.54 per share, for the same period in 1999. Net income, before taxes and share of income, increased from $77,633,000 to $90,925,000 in 2000. Operating cash flow Operating cash flow Earnings before depreciation minus taxes. Measures the cash generated from operations, not counting capital spending or working capital requirements. (EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become ) increased to $135,062,000 compared with $129,285,000 in 1999. Mr. Marcel Dutil Marcel Dutil (born 1942 in St-Georges-de-Beauce, Canada) is a Canadian businessman. In 1963, he began working at Canam Steel Works, a company founded by his father Roger Dutil in 1960. In 1973, he became CEO of his father company know known as the Canam Manac Group. , Chairman of the Board 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. , attributed this increase to the excellent performance of in the steel joist and steel component sectors. The Manac division beat the downturn Downturn The transition point between a rising, expanding economy to a falling, contracting one. downturn A decline in security prices or economic activity following a period of rising or stable prices or activity. in the trucking industry by maintaining profitability during the each quarter throughout the fiscal year. The 17 plants manufacturing steel joists and steel construction components produced 526,300 tons (Transparent Optical Networking Services) A marketing term for providing dark fiber to a customer. The customer is responsible for generating the transmission signal and interpreting it at the other end. See dark fiber. of steel products compared with 468,256 tons in 1999, an increase of 12%. The steel components sector posted a segmented net income of $57,883,000 compared to $40,563,000 in 1999, an increase of 42.6%. These results include a net profit of $4,152,000 from the sale of an investment in a structural steel company in 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. . In the semitrailer sem·i·trail·er n. A trailer having a set or several sets of wheels at the rear only, with the forward portion being supported by the truck tractor or towing vehicle. division, Manac's sales declined from $260,580,000 in 1999 to $252,647,000 in 2000, a slight decrease when compared with 1999. However, due to the decline in the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. market as a result of an increase in fuel prices, net income was $7,639,000 compared with $13,474,000 in 1999. Manac fabricated fab·ri·cate tr.v. fab·ri·cat·ed, fab·ri·cat·ing, fab·ri·cates 1. To make; create. 2. To construct by combining or assembling diverse, typically standardized parts: 7,852 semitrailers in 2000 compared with 8,119 in 1999. Steel Plus Network had a solid year. Members purchased more than $162,072,000 of Canam products and services in 2000 compared with $126,000,000 in 1999, an increase of 28.6%. Steel Plus Network Technology was used to fabricate 65,342 tons of steel compared with 54,616 in 1999, an increase of 19.6%. Steel Plus Network ended its fiscal year with 95 members, the same total as in 1999. In 2000, The Canam Manac Group continued its share buy back program under a normal course issuer bid. Up to December 31, 1,690,790 shares had been bought back at an average price of $8.17 per share. At the end of the fiscal year, there were 33,695,180 outstanding shares. The Canam Manac Group Inc. is an industrial company specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. in the fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. of steel joists and metal construction components, semitrailers and forestry forestry, the management of forest lands for wood, water, wildlife, forage, and recreation. Because the major economic importance of the forest lies in wood and wood products, forestry has been chiefly concerned with timber management, especially reforestation, equipment. It operates 21 plants in 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 , the United States, 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. and France. In 2000, sales reached CAN$1,110,597,000 and the company employs over 5,097 people. The steel construction components sector has a backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. of 150,126 tons compared with 128,939 tons in 1999, an increase of 16.4%. In the semitrailer market, backlog was 1,674 units compared with 3,548 units for the period ending December 31, 1999. The Board of directors declared a quarterly dividend of $0.04 per Class "A" subordinate voting share, payable on March 30, 2001 to shareholders on record up to March 16, 2001. The Canam Manac Group Inc. is an industrial company specialized in the fabrication of steel joists and metal construction components, semitrailers and forestry equipment. It operates 21 plants in Canada, the United States, Mexico and France. In 2000, sales reached CAN$1,110,597,000 and the company employs over 5,097 people.
Consolidated Statement of Income
(in thousands except per share amounts)
three months twelve months
===============================================================
2000 1999 2000 1999
===============================================================
Sales $305,880 $303,483 $1,110,597 $1,043,614
---------------------------------------------------------------
Gross profit 65,512 72,860 232,485 226,893
---------------------------------------------------------------
Sales and administ-
ration charges 22,752 23,816 85,239 85,427
---------------------------------------------------------------
Profit-sharing 3,873 3,956 12,184 12,181
---------------------------------------------------------------
Depreciation and
amortization 7,454 8,664 28,620 28,930
---------------------------------------------------------------
Financial charges 6,021 5,169 23,810 21,722
---------------------------------------------------------------
Other (income) expenses (1,135) 443 (1,134) 1,000
---------------------------------------------------------------
Gain on disposal of
investment (7,159) - - (7,159) - -
---------------------------------------------------------------
Income tax expenses 13,428 14,516 32,241 33,209
---------------------------------------------------------------
Share of income (loss)
of related and limited
partnerships (3,006) 2,539 (3,122) 3,169
---------------------------------------------------------------
Net income 17,272 18,835 55,562 47,593
---------------------------------------------------------------
Net income per share
outstanding $0.51 $0.54 $1.61 $1.35
---------------------------------------------------------------
Weighted average number
of shares outstanding 34,514 35,333
---------------------------------------------------------------
Outstanding class "A"
subordinate shares as
of December 31 33,695 35,297
---------------------------------------------------------------
Consolidated Balance Sheet
(in thousands)
twelve months
===============================================================
Assets 2000 1999
===============================================================
Total current assets $384,474 $348,109
---------------------------------------------------------------
Fixed assets 275,173 230,657
---------------------------------------------------------------
Investments 100,676 88,754
---------------------------------------------------------------
Future income tax assets 1,334 637
---------------------------------------------------------------
Other assets 17,697 21,730
===============================================================
$779,354 $689,887
===============================================================
Liabilities
===============================================================
Total current liabilities $238,671 $194,337
---------------------------------------------------------------
Long-term debt 219,651 233,873
---------------------------------------------------------------
Deferred credits 31,057 12,573
---------------------------------------------------------------
Future income tax liabilities 8,250 5,766
---------------------------------------------------------------
Class "C" shares 2,105 2,105
---------------------------------------------------------------
Shareholders' equity 279,620 241,233
===============================================================
$779,354 $689,887
===============================================================
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