Continued Growth at Richelieu.DORVAL, Quebec--(BUSINESS WIRE)--March 18, 1997-- RICHELIEU INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (ME;TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). RCH RCH Reach RCH Riohacha, Colombia (Airport Code) RCH Residential Care Home RCH Railway Clearing House (UK) RCH Research in Computing for Humanities (University of Kentucky) ) For the first quarter ended February 28, 1997, Richelieu Hardware (RCH) recorded consolidated sales of $22 million, up from $17.8 million for the corresponding period of 1996, an increase of 24 percent. Earnings before depreciation, amortization, interest and income taxes totalled $2.2 million, compared with $1.8 million for the first quarter of fiscal 1996, an increase of 21 percent. Net earnings reached $985,000, up nearly 8 percent over the first three months of 1996, including the additional interest charges due to the share redemption last August. Earning per share Noun 1. earning per share - the portion of a company's profit allocated to each outstanding share of common stock net income, net profit, profit, profits, earnings, lucre, net - the excess of revenues over outlays in a given period of time (including depreciation amounted to $0.17 ($0.16 fully diluted), up 31 percent over the same period of 1996. Growth Factors Richelieu achieved a record first quarter, even though the months from December to March are generally the slowest of the fiscal year. Growth for the first quarter of 1997 reflected the impact of the 1996 acquisitions on sales and earnings and the effects of the market upswing, especially in Ontario and Western Canada
Western Canada, commonly referred to as the West . In Quebec, the construction and home improvement industry continued to show encouraging signs of a recovery. During the Annual General Meeting held today at The Montreal Exchange Montreal Exchange A Canadian derivatives exchange that facilitates the trading of stock options, interest rate futures and options, as well as index options and futures. Located in Montreal, Quebec, it is the country's main financial derivative market, while the Winnipeg , management told shareholders that it looked forward to 1997 with confidence. The Company continues to take advantage of the upturn in its markets and plans to actively pursue its growth- by-acquisition program. -0-
RICHELIEU HARDWARE LTD.
Financial Highlights for the First Quarter
(in thousands of dollars, except per-share amounts)
For the three months ended
February 28, February 29,
1997 1996 Variation
____________ ____________ _________
Sales $22,019 $17,750 +24 p.c.
Earnings before depreciation,
amortization, interest and
income taxes 2,240 1,849 +21 p.c.
Net earnings 985 915 +8 p.c.
Earnings per share (basic) $0.17 $0.13 +31 p.c.
(fully diluted) $0.16 $0.13
CONTACT: RICHELIEU HARDWARE LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability . Richard Lord, 514/ 683-4144 |
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