D.G. Jewellery of Canada Ltd. Reports 1996 Earnings.NORTH YORK North York Former city (pop., 2001: 608,288), southeastern Ontario, Canada. In 1998 it joined the cities of Etobicoke, Scarborough, Toronto, and York and the borough of East York to become the City of Toronto. North York became a borough in 1967 and a city in 1979. , Ontario--(BUSINESS WIRE)--July 16, 1997--D.G. Jewellery of Canada Ltd. (BSE See Bombay Stock Exchange. BSE See Boston Stock Exchange (BSE). :DGJ;Nasdaq:DGJLF) announced 1996 revenues of $14,138,000 compared to $15,544,000 for the 12 months ended Jan. 31, 1996. Income from operations before income taxes amounted to $818,000 compared to $816,000 for the 12 months ended Jan. 31, 1996. Net income for 1996 amounted to $418,000 or $.11 per share compared to $537,000 or $.14 per share for the year ended Jan. 31, 1996. The company had changed its fiscal year to a calendar year in 1995. Revenues for 1996 reflect a charge of $600,000 due to the consolidation with Diamante di·a·man·te or di·a·man·té n. 1. A small, glittering ornament, such as a rhinestone or a sequin, applied to fabric or a garment. 2. Fabric that has been covered with many of these ornaments. Fine Jewellery Limited, based upon an agreement which terminated Feb. 7, 1997, at which time there will be no further consolidation with that corporation which is owned by a vice president of the company. The company completed its initial public offering in April 1997 realizing net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of approximately $6,373,000 which were used to reduce high interest loans, increase inventory and working capital. The proceeds will continue to be used for expanding sales, including hiring additional sales representatives and broadening sample lines and the customer base. D.G. Jewellery of Canada Ltd. is 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 wholesale 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 mass merchants, 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. , catalog catalog, descriptive list, on cards or in a book, of the contents of a library. Assurbanipal's library at Nineveh was cataloged on shelves of slate. The first known subject catalog was compiled by Callimachus at the Alexandrian Library in the 3d cent. B.C. showrooms, shopping networks and other high volume retailers and major discounters in Canada and the United States The United States and Canada share a unique legal relationship. U.S. law looks northward with a mixture of optimism and cooperation, viewing Canada as an integral part of U.S. economic and environmental policy. . -0-
D.G. JEWELLERY OF CANADA LTD.
CONSOLIDATED FINANCIAL DATA
Income Statement Data 12 Months One Month 11 Months 12 Months
ended ended ended ended
Dec. 31, Jan. 31, Dec. 31, Jan. 31,
1996 1996 1995 1995
(In US thousands except per share data)
Operating revenues 14,138 1,602 13,942 15,552
Operating costs and
expenses excluding
depreciation 12,265 1,431 12,068 13,935
Depreciation 197 19 174 160
Operating income 1,676 152 1,700 1,457
Financial and other
income (expenses) (858) (80) (956) (857)
Income before income
taxes 818 72 744 600
Provision for taxes (397) (13) (265) (104)
Income before minority
income adjustment 421 59 479 496
Less: Minority income (3) 0 (1) (1)
Net Income 418 59 478 495
Earnings per share 0.11 0.02 0.12 0.13
CONTACT: D.G. Jewellery of Canada Ltd. Jack Berkovits, President 416/665-8844 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion