Enerchem International Inc. Reports Record Revenues and Net Profits.EDMONTON Edmonton (ĕd`məntən), city (1991 pop. 616,741), provincial capital, central Alta., Canada, on the North Saskatchewan River. The center of the largest metropolitan area in Alberta, Edmonton, known as the "Gateway to the North," is located , Alberta--(BUSINESS WIRE)--June 19, 1997-- (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). ECH ECH Echelon ECH Echangeur (French: Exchange; Canada Post street designation) ECH Electron Cyclotron Heating ECH Epichlorohydrin ECH Echinacea ECH Emergency Command Hologram (Star Trek) . ) Mr. Larry B. Phillips of Enerchem International Inc., an Edmonton based specialty chemical A Specialty chemical is a chemical produced for a specialized use. They are produced in lower volume than bulk chemicals, of which petrochemicals, made from oil feedstocks, are the most common. However, both are produced in a chemical plant. company and equipment rental company serving the oil and gas industry, reports record revenues and net profits for the nine months ended May 31, 1997. Revenues were $8,935,842 versus $6,407,127 for the first nine months of the prior year representing a 39 percent increase. Income, before tax, during the period increased from $645,637 to $1,522,332, an increase of 136 percent. After tax income increased 495 percent to $776,008 compared to $130,510 the previous year. Earnings per share for the nine months have increased from $0.02 to $0.12. Revenues for the quarter ended May 31, 1997 were $3,143,324 versus $2,134,603 for the corresponding year representing a 47 percent increase. Income before tax during the quarter increased from $248,297 to $445,865, an increase of 79 percent and after tax income increased to $226,541 compared to a loss the previous year of $50,168. Earnings per share for the quarter increased to $0.03 from a loss of $0.01. ENERCHEM INTERNATIONAL INC. Signed by: "Larry B. Phillips" President THE TORONTO STOCK EXCHANGE Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. HAS NEITHER APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN. CONTACT: Enerchem International Inc. Larry B. Phillips, 403/ 955-3388 403/ 955-2064 (FAX) |
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