Cayman Water announces final December 1996 year end results and recommendation of final dividend.GEORGETOWN Georgetown, city, Guyana Georgetown, city (1985 est. pop. 75,000), capital and largest city of Guyana, on the Atlantic Ocean at the mouth of the Demerara River. , Cayman Islands Cayman Islands (kā`mən), British dependency (2005 est. pop. 44,300), 100 sq mi (259 sq km), comprising three islands in the West Indies. , B.W.I.--(BUSINESS WIRE)-- Feb. 10, 1997--Cayman Water (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CWCOF) announced Monday Monday: see week. that, as previously reported in a preliminary release dated Jan. 29, 1997, it achieved record 12 month sales for the year ended Dec. 31, 1996 of $6,365,207 versus $5,934,433, a 7% increase over the year ended Dec. 31, 1995. Net income rose to $1,138,174 or $0.40 per share compared to $868,044 or $0.38 per share the year before. Average shares outstanding were 2,824,470 versus 2,279,377 in the comparable period. Stockholders' equity Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. increased strongly to $9,502,154 from $6,465,716 over the same 12 month period, an increase of 47%. The company further confirms the announcement of the recommendation by the board of directors of a final dividend of $0.06 per share. The dividend is subject to approval at the annual general meeting to be held on April 9, 1997 and will be paid on April 30, 1997 to shareholders of record on March 31, 1997. CONTACT: Cayman Water Alexander S. Bodden - Vice President Finance 345/945-4277 or FMMG Inc. 407/487-2622, 407/852-4561 (Fax) |
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