Carbite Incorporated Reports 350 Percent Growth in 1996.VANCOUVER, British Columbia--(BUSINESS WIRE)--Feb. 27, 1997-- Carbite Golf Inc. (VSE See DOS/VSE. VSE - Virtual Storage Extended :CAB.) Carbite Golf Inc. reports its subsidiary Carbite, Inc. of San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. has recorded consolidated sales of $10.5 million US, for the fiscal year ending December 31, 1996. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Carbite, Inc., consolidated sales have grown 350 percent compared to the same period in 1995 and more than 1,200 percent for the same period in 1994. "We are seeing strong financial gains as more and more professional and amateur golfers are realizing the real benefits they derive from our patented metallurgical met·al·lur·gy n. 1. The science that deals with procedures used in extracting metals from their ores, purifying and alloying metals, and creating useful objects from metals. 2. technology," announced Michael Spacciapolli, president of Carbite, Inc. According to Spacciapolli, consolidated operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. for the year ending December 31, 1996 was $1.05 million US compared to $21,000 US for the same period in 1995. Additionally, Carbite Golf Inc. is in the process of acquiring 49 percent interest in Viper Bite, as announced in a September 26, 1996 press release. Carbite Golf Inc. further reports the Merger Documentation referenced in a January 2, 1997 press release is waiting approval from 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). . Carbite, Inc. manufactures wedges, putters and iron sets under the trademarks Check-Mate, Tru-Spin, Viper Bite, Dual-Density and Diatanium. -0- Note to Editors: The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. CONTACT: Lewis, England & Associates, Inc. 501/376-0222 501/376-6690 (FAX) 1-888-376-3900 US/CAN |
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