Globelle Corporation anticipates disappointing third quarter results.MISSISSAUGA, Ontario--(BUSINESS WIRE)--March 27, 1997--Globelle Corporation (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :GLP See gateway location protocol. ) ("Globelle"), a distributor of micro-computer and related products announced today that their third quarter results (quarter ending February 28, 1997) will be below analysts expectations. The Canadian Business Canadian Business is the longest-publishing business magazine in Canada. It was founded in 1928 as The Commerce of the Nation, the organ of the Canadian Chamber of Commerce. The magazine was renamed Canadian Business in 1933. Unit continues to show operating profits, while the U.S. Business Unit is suffering losses, producing an operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. on a consolidated basis. Globelle also expects to have a substantial write down of it's investment in the U.S. company. Globelle is a distributor of micro-computer products including notebooks, servers, desk-top computers, disk drives, monitors, terminals, printers, communication products, local area networks and software products. The Company has operations in Canada, the United States, Israel and the United Kingdom. The common shares are traded on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol GLP. CONTACT: Globelle Corporation Geoffrey Matus, 416/ 925-3135 416/ 925-4132 (FAX) or Globelle Corporation Ron Austin, 905/ 629-7108 905/ 629-2028 (FAX) |
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