Kimpex Announces its Third Quarter Results.Drummondville, QUEBEC--(BUSINESS WIRE)--April 24, 1998-- KIMPEX(ME:KPX KPX Korea Power Exchange KPX Kilo Pixel KPX Kodak Picture Exchange .) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :KPX.) Sales for the three months ended February 28, 1998 reached $20.5 million as compared with $20.4 million for the corresponding period in 1997. For this third quarter, the Company suffered a net loss of $0.1 million or $0.00 per share, whereas it had realized a net profit of $0.6 million or $0.01 per share for the corresponding quarter in 1997. The ice storm, which temporarily diminished di·min·ish v. di·min·ished, di·min·ish·ing, di·min·ish·es v.tr. 1. a. To make smaller or less or to cause to appear so. b. the fervour of snowmobilers, had a negative effect on the increase in sales forecasted Sales forecast A key input to a firm's financial planning process. External sales forecasts are based on historical experience, statistical analysis, and consideration of various macroeconomic factors. in Quebec and in certain regions of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . For the nine months ended February 28, 1998, sales came to $54.1 million as compared with $55.5 million recorded a year earlier. The net loss increased from $0.4 million or $0.01 per share for last year to $1.9 million or $0.03 per share. The programs to reduce costs and improve productivity which were recently implemented will enable the Company to start the next fiscal year with vigour. Profile Kimpex International is one of North America's leading distributors of spare parts Spare parts, also referred to as Service Parts is a term used to indicate extra parts available and in proximity to the mechanical item, such as a automobile, boat, engine, for which they might be used. Spare parts are also called “spares. and accessories for recreational vehicles, including snowmobiles, motorcycles, all-terrain vehicles all-ter·rain vehicle n. Abbr. ATV A small, open motor vehicle having one seat and three or more wheels fitted with large tires. It is designed chiefly for recreational use over roadless, rugged terrain. and motorboats. The Company has seven warehouses - three in Canada and four in the United States - and employs 230 people.
Earnings highlights
(in thousands of dollars, except data per share)
Periods ended February 28
Three months Nine months
1998 1997 1998 1997
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Sales $20,519 $20,431 $54,143 $55,507
Net earnings (loss) $(67) $613 $(1,934) $(376)
Net earnings (loss)
per share $(0.00) $0.01 $(0.03) $(0.01)
CONTACT: Kimpex International Inc. Andre Larouche, 819/ 472-3326, ext. 282 or Kimpex International Inc. Jean Gatineau, 819/ 472-3326, ext. 279 |
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