Dominion Bridge Asia/Pacific subsidiary McConnell Dowell announces year-end results of $254.2 million.MONTREAL--(BUSINESS WIRE)--Sept. 20, 1996--Dominion Bridge Corp. ("DBC See dBA. (language, parallel) DBC - A data-parallel bit-serial C based on MPL. SRC, Bowie MD. E-mail: <maya@super.org>. "), formerly Cedar Group Inc. (NASDAQ/NMS:DBCO, VSE See DOS/VSE. VSE - Virtual Storage Extended :DOM.U) announced today that its 78% owned Asia/Pacific subsidiary, McConnell Dowell Corp. Limited (MDC (1) (Mobile Daughter Card) See riser card. (2) See Meta Data Coalition. ), which is traded on the Australian and New Zealand stock exchanges New Zealand Stock Exchange Automated, screen-based national trading system based in Wellington. (symbol:MDC) has reported results for their year ended June 30, 1996. Revenues for the fiscal year ended June 30, 1996 were US$254.2 million as compared to US$246 million for the year ended June 30, 1995. For fiscal 1996, income before taxes was US$8.9 million as compared to US$10.5 million for fiscal year 1995. Net income per share was US$0.17 as compared to US$0.24 for the same period last year. Some significant events which occurred during the 1996 financial year were: - The successful completion of the Si Chang Thong Terminal contract in Thailand. - The Blue Mountains tunnel contract, the largest Build, Own, Operate and Transfer project in the history of the company. - Continued improvement in contracting opportunities in each of the companies operating divisions and in most of the principal markets in which it operates. Nicolas Matossian, president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. stated, "We are very pleased with our recent acquisition and the positive results achieved by McConnell Dowell. There are some very strong synergies between MDC, Dominion Bridge Inc., Steen Contractors and Groupe MIL Inc. leveraging our multi-disciplined capabilities on a global scale. MDC starts the 1997 fiscal year with a backlog of US$275 million and is well placed to continue to win and execute further profitable work in its established markets and anticipates continued solid operating earnings Operating Earnings Profits after subtracting expenses such as marketing, cost of goods sold, administration and general operating costs from revenue. Notes: Tax and interest expenses are not subtracted - operating earnings are synonymous with EBIT (earnings before ." Dominion Bridge Corp., a Delaware corporation, is an international engineering, infrastructure company, employing advanced materials technology with operation and projects in North America, Europe, Asia and the Pacific Rim. This news release is neither approved nor disapproved by 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). . CONTACT: Dominion Bridge Corp. Eric Boyd, 514/634-3550 |
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