Concert Industries Third Quarter Results.VANCOUVER, British Columbia--(BUSINESS WIRE)--Dec. 23, 1996--Concert Industries'(VSE See DOS/VSE. VSE - Virtual Storage Extended , ME CNG CNG Compressed Natural Gas CNG Calling (Tone) CNG Comfort Noise Generation CNG Cryptography Next Generation (Microsoft Windows Vista) CNG Centre National de Génotypage .) sales for the nine month period ended November 30, 1996 reached a new record high of $5,334,630 an increase of 34 percent from the nine month sales in 1995 of $3,983,012. Contribution to fixed costs fixed costs, n.pl the costs that do not change to meet fluctuations in enrollment or in use of services (e.g., salaries, rent, business license fees, and depreciation). was $1,806,925 a margin of 34 percent compared to a contribution of $710,311 and a margin of 18 percent in 1995. The increased sales are the result of stronger North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. market for the Company's products, particularly in the adult incontinence market. The net operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. for the period was $40,051 compared to $1,207,780 for 1995 and after expensing business development costs for the Company's expansion in Europe, the net loss for the period was $364,793 compared to a net loss of $2,066,349 for the first nine months of 1995. The net cash flow for the first nine months was $48,858 compared to a cash loss of $1,728,923 for the first nine months of 1995. The third quarter of 1996 marked a significant achievement for the Company as its first quarter of positive cash flow and the first profitable quarter from continuing operations. The Directors would also like to announce that, at the Company's request its shares will cease to be listed on 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). effective January 1, 1997. The Company will continue its listing on the Montreal Exchange where it will concentrate its efforts to improve investor awareness. The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. CONTACT: Concert Industries Ltd Dieter Peter, 604/ 681-1008 604/ 681-2627 (FAX) Email: inrel@air-laid.com INTERNET: http://www.air-laid.com |
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