Clearly Canadian Announces First Quarter Results.Business Editors 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. , B.C.--(BUSINESS WIRE)--May 9, 2001 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 (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CCBC CCBC Community College of Baltimore County (Maryland) CCBC Community College of Beaver County (Monaca, Pennsylvania) CCBC Caerphilly County Borough Council (Wales, UK) ) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CLV (Constant Linear Velocity) Rotating a disk at varying speeds. By changing speed depending on which track is being accessed, the density of bits in each track can be made uniform. .) today reported financial results for its first fiscal quarter ended March 31, 2001. (ALL FIGURES BELOW AND IN THE ATTACHED SCHEDULES ARE STATED IN U.S. DOLLARS). Earnings (loss) before interest, taxes, depreciation and amortization ("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 ") for the three months ended March 31, 2001 were ($136,000) on sales revenues of $6,688,000 compared to EBITDA of ($1,273,000) on revenues of $6,044,000 for the same period in 2000. Gross profit for the three months ended March 31, 2001 was $2,616,000 (39.11%) compared to $2,271,000 (37.57%) for the three months ended March 31, 2000. Net income (loss) for the three months ended March 31, 2001 was ($704,000) ($0.11) per share compared to ($1,790,000) ($0.30) per share for the same period in 2000. Selling, general and administrative expenses were $2,802,000 for the three months ended March 31, 2001 compared to $3,568,000 for the same period in 2000. "We achieved a significant financial improvement in the first quarter of 2001 versus the same period last year by increasing sales, improving gross profitability and reducing selling, general and administrative expenses. We're we're Contraction of we are. we're we are pleased to see the improving sales trend in the first quarter of 2001 after the Company's intensive efforts in the second half of 2000 to expand listings of our redesigned Clearly Canadian sparkling flavoured adj. 1. same as flavored; - of foods. water brand," said Douglas Douglas, city, Isle of Man Douglas, city (1991 pop. 19,950), capital of the Isle of Man, Great Britain. It is a popular resort, connected by rail to Ramsey and Port Erin, on the Irish Sea. Tourism is the chief industry. L. Mason, 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. , Clearly Canadian Beverage Corporation. Based in Vancouver, B.C., Clearly Canadian is a leading producer of premium beverages, including Clearly Canadian(r) sparkling flavored water, Clearly Canadian O(plus)2(r) and Tre Limone There are communes that have the name Limone (Italian for lemon) in Italy:
n. 1. (Zool.) The peele. Fitness Water in the United States, Canada and the Caribbean. Clearly Canadian also owns CC Beverage (U.S.) Corporation, a Washington Washington, town, England Washington, town (1991 pop. 48,856), Sunderland metropolitan district, NE England. Washington was designated one of the new towns in 1964 to alleviate overpopulation in the Tyneside-Wearside area. State company, which produces and distributes Cascade A connected series of devices or images. It often implies that the second and subsequent device takes over after the previous one is used up. For example, cascading tapes in a dual-tape backup system means the second tape is written after the first one is full. Clear(tm) and Clearly Canadian products in the United States and other countries, as well as co-packing (bottling) for other manufacturers' brands. Additional information on Clearly Canadian and CC Beverage may be obtained on the world wide web at www.clearly.ca. Statements in this news release that are not historical facts are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are subject to risks and uncertainties. Words such as "expects", "intends", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses. Actual results may differ materially from those currently anticipated due to a number of factors including, but not limited to, general economic conditions, changing beverage consumption trends of consumers, the Company's ability to generate sufficient cash flows to support capital expansion plans and general operating activities, competition, pricing and availability of raw materials, the Company's ability to maintain favourable supply, production and distribution arrangements, laws and regulations and changes thereto there·to adv. 1. To that, this, or it. 2. Archaic In addition to that; furthermore. thereto Adverb Formal 1. to that or it 2. that may affect the way the Company's products are manufactured, distributed and sold and other factors beyond the reasonable control of the Company. All forward-looking statements are made pursuant to the Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. and Reform Act of 1995. Additional information on factors that may affect the business and financial results of the Company can be found in filings of the Company with the B.C. Securities and Exchange Commission. CLEARLY CANADIAN BEVERAGE CORPORATION Stuart R. Ross Ross , Sir Ronald 1857-1932. British physician. He won a 1902 Nobel Prize for proving that malaria is transmitted to humans by the bite of the mosquito. , Chief Financial Officer CLEARLY CANADIAN BEVERAGE CORPORATION is the registered holder of the trademark CLEARLY CANADIAN(r). CLEARLY CANADIAN BEVERAGE CORPORATION, and its wholly owned subsidiaries Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , manufacture, distribute and market CLEARLY CANADIAN(r), CASCADE CLEAR(tm), REEBOK FITNESS WATER, CLEARLY CANADIAN O(plus)2(r), TRE LIMONE(tm) and other flavoured and unflavoured beverages. Reebok is the registered trademark of Reebok.
Clearly Canadian Beverage Corporation
Consolidated Statement of Operations and Deficit
For the Three months ended March 31, 2001 and 2000
(Stated in Thousands of United States Dollars) Unaudited
---------------------------------------------------------------------
March 31 March 31
2001 2000
---------------------------------------------------------------------
Sales $6,688 6,044
Cost of Sales 4,072 3,773
---------------------------------------------------------------------
Gross Profit 2,616 2,271
Selling, General and
Administrative Expenses 2,802 3,568
Amortization 477 424
---------------------------------------------------------------------
Earnings (loss) before the following: (663) (1,721)
Interest on long term debt 91 93
Other (income) expenses - net (32) (15)
Loss (gain) on sale of assets (18) (9)
---------------------------------------------------------------------
Earnings (loss) before income taxes (704) (1,790)
Income taxes 0 0
---------------------------------------------------------------------
Net earnings (loss) for the period (704) (1,790)
Deficit - beginning of period (40,231) (33,782)
---------------------------------------------------------------------
Deficit - end of period $(40,935) (35,572)
---------------------------------------------------------------------
---------------------------------------------------------------------
Earnings (loss) per share $ (0.11) (0.30)
---------------------------------------------------------------------
---------------------------------------------------------------------
Weighted average shares outstanding
(post consolidated) 6,640,682 6,052,552
---------------------------------------------------------------------
---------------------------------------------------------------------
Clearly Canadian Beverage Corporation
Consolidated Balance Sheet
As At March 31, 2001 and December 31, 2000
(Stated in Thousands of United States Dollars) Unaudited
---------------------------------------------------------------------
March 31 December 31
2001 2000
---------------------------------------------------------------------
ASSETS
Current
Cash and cash equivalents $ 0 296
Accounts receivable 3,703 2,825
Inventories 2,622 2,115
Prepaid expenses, deposits
and other assets 402 146
---------------------------------------------------------------------
6,727 5,382
Long term investments 83 87
Distribution rights 2,097 2,179
Long-term receivables 502 502
Property, plant and equipment 15,839 16,516
Goodwill 3,205 3,277
---------------------------------------------------------------------
$ 28,453 27,943
---------------------------------------------------------------------
LIABILITIES
Current
Bank indebtedness $ 359 0
Accounts payable and accrued liabilities 5,642 4,617
Corporate income taxes payable 94 87
Current portion of long term debt 683 693
---------------------------------------------------------------------
6,778 5,397
Long-term debt 5,111 5,427
Other liabilities 26 39
---------------------------------------------------------------------
11,915 10,863
---------------------------------------------------------------------
SHAREHOLDERS' EQUITY
Share Capital
Issued 7,013,682 (2000 - 7,013,682)
without par value
Outstanding 6,640,682
(2000 - 6,640,682) 58,208 58,208
Warrants 692,740 (2000 - 692,740) 423 423
Cumulative translation adjustment (1,158) (1,320)
Retained earnings (deficit) (40,935) (40,231)
---------------------------------------------------------------------
16,538 17,080
---------------------------------------------------------------------
$ 28,453 27,943
---------------------------------------------------------------------
|
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion