D.G. Jewellery of Canada Ltd. Announces Record Nine Month and Third Quarter 1998 Results.TORONTO--(BUSINESS WIRE)--Nov. 12, 1998-- Net Income Continues Dramatic Increase to Over $2,620,000 as Compared to a loss of $23,000 in 1997 (Amounts Expressed in U.S. Dollars) D.G. Jewellery of Canada Canada (kăn`ədə), independent nation (2001 pop. 30,007,094), 3,851,787 sq mi (9,976,128 sq km), N North America. Canada occupies all of North America N of the United States (and E of Alaska) except for Greenland and the French islands of Ltd. (Boston Stock Exchange The Boston Stock Exchange (BSE) is a regional stock exchange located in Boston, Massachusetts. The third-oldest stock exchange in the United States, it was founded in 1834. On October 2nd, 2007 Nasdaq agreed to acquire BSE for $61 million. :DGJ) (Nasdaq:DGJLF), announced results for the nine months ended Sept. 30, 1998. Nine month revenues are 328 percent, as compared to the period ending Sept. 30, 1997. In addition, third quarter sales are 428 percent on a comparative basis, thereby representing two of the dramatic results as reported. Total revenues for the period ended Sept. 30, 1998 more than tripled to $26,517,727 vs. $8,066,534 for the comparable 1997 period. D.G.'s profit was $2,624,960 as compared to a loss of $23,377. Net earnings per share (on a fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. basis) for the nine months were 46 cents vs. 0 cents for the comparable period in 1997. Total revenues for the three months ended Sept. 30, 1998 were $11,613,903 compared to $2,712,909 for the comparable 1997 period. D.G.'s profit was $629,342 as compared to a loss of $104,415 for the 1997 period. These dramatic results include the acquisitions (Diamonair and Aviv) for the 1998 periods, and comparable results include those of Aviv for four months (June-September 1997). In addition, the D.G. division has increased its revenues and has also broadened its product and customer base. The results reflect both the increased overall corporate utilization of capacity and corporate diversification Diversification A risk management technique that mixes a wide variety of investments within a portfolio. It is designed to minimize the impact of any one security on overall portfolio performance. Notes: Diversification is possibly the greatest way to reduce the risk. . A very pleased Jack Berkovits, 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. commented that "we continue to expand our business on a profitable basis while providing high-quality products at excellent prices to our increasing diversified diversified (di·verˑ·s customer base. Our monthly sales continue to post new records month after month. While we continue to do all of the above, we explore interesting and exciting opportunities for joint-ventures, acquisitions and corporate alliances. We wish to thank all of our customers, associates and employees for our continued success and look forward to our exciting future." About D.G. Jewellery of Canada Ltd. D.G. Jewellery of Canada Ltd. is primarily engaged in the design, manufacture, merchandising merchandising Element of marketing concerned especially with the sale of goods and services to customers. One aspect of merchandising is advertising, which aims to capture the interest of the segment of the population most likely to buy the product. and distribution of stone-set jewelry jewelry, personal adornments worn for ornament or utility, to show rank or wealth, or to follow superstitious custom or fashion. The most universal forms of jewelry are the necklace, bracelet, ring, pin, and earring. for department stores This is a list of department stores. In the case of department store groups the location of the flagship store is given. This list does not include large specialist stores, which sometimes resemble department stores. , mass merchants, catalogue showrooms, television shopping networks and other high volume retailers and other major discounters. The company is also seeking to take advantage of non-traditional wholesale distribution outlets such as Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the wholesale advertising services, liquidation The collection of assets belonging to a debtor to be applied to the discharge of his or her outstanding debts. A type of proceeding pursuant to federal Bankruptcy operations, and consumer products rental companies. The company maintains a broad base of customers concentrated in four major jewelry segments: -0-
(i) department stores such as Sears Roebuck, J.C. Penney and
Saks Fifth Avenue
(ii) specialty markets, such as The Shopping Channel (Canada)
and Value Vision International Inc.
(iii) jewelry chain stores such as Zales, Gordons, Friedmans and
others
(iv) mass merchandisers such as Wal-Mart and others
(v) with USA acquisitions in fold, D.G. Jewellery is
increasingly exporting to the USA and demonstrating its
ability to "deliver the goods."
Except for the historical information contained herein the matters discussed in this earnings release include 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 may involve a number of risks and uncertainties. Actual results may vary significantly based on a number of factors, including, but not limited to, risks in product demand, the impact of competitive products and pricing, changing economic conditions, both here and abroad, release and sales of new products, and other risk factors detailed in the company's most recent annual report, and filing with the Securities and Exchange Commission.
D.G. Jewellery of Canada Ltd.
Financial Summary (Unaudited)
(Amounts Expressed in U.S. Dollars)
Three Months Ended Nine Months Ended
9/30/98 9/30/97 9/30/98 9/30/97
____________________ ____________________
Net sales 11,613,903 2,712,909 26,517,727 8,066,534
Income before income taxes 717,795 205,391 3,209,072 (103,238)
Net income 629,342 (104,415) 2,624,960 (23,377)
Average weighted number
of shares
-- Basic 5,165,000 5,165,000 5,165,000 4,602,778
-- Assuming Dilution 5,665,000 5,665,000 5,665,000 4,880,556
E.P.S.
-- Basic 0.12 (0.02) 0.51 (0.01)
-- Assuming Dilution 0.11 (0.02) 0.46 (0.00)
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