Kimpex Releases First Quarter Results.MONTREAL--(BUSINESS WIRE)--Sept. 26, 1996--KIMPEX INTERNATIONAL(ME, TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : KPX KPX Korea Power Exchange KPX Kilo Pixel KPX Kodak Picture Exchange ) Kimpex International Inc. today announced its results for the first quarter. For the first quarter ended August 31, 1996, sales were $14.7 million compared to $18.7 million for the same period last year. The net loss of $1.4 million or $0.02 per share for the period compared to a net loss of $1.2 million or $0.13 per share for the three months ended August 31, 1995. The following message to shareholders will appear in the Company's report to shareholders for the first quarter of fiscal 1997: "For the first quarter ended August 31, 1996, sales were $14.7 million compared to $18.7 million for the same period last year. The net loss of $1.4 million or $0.02 per share for the period compared to a net loss of $1.2 million or $0.13 per share for the three months ended August 31, 1995. The first quarter is traditionally one in which the Company loses money as it accumulates inventory for the peak snowmobile snowmobile, vehicle designed to travel over snow, ice, and similar surfaces that offer limited traction and weight-supporting capability. As the performance of the vehicle depends to a large extent on keeping its weight as low as possible, there is no enclosure for season. "The decrease in sales over last year stems largely from the fact that this year the Company elected not to begin its hard parts snowmobile booking program until September Until September is a 1984 romantic drama set in France. It stars Karen Allen as an American tourist in Paris who falls in love with a married Frenchman (Thierry Lhermitte). External links 1996 as opposed to last year when it started in early August. The first quarter results were on plan and we look forward to a strong second quarter. "The first quarter results highlight the benefits from the financial restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). carried out during the third quarter of last year in the form of lower total debt and lower interest expense. The number of outstanding shares has increased from 10 million to 69 million which explains the lower loss per share. "As the past years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time first quarter is seldom indicative of annual results and we are therefore cautious regarding year-end projections. "We do believe, however, that given normal seasonal weather conditions, the Company should return to profitability this year especially in light of the significant overhead reduction program which has been recently implemented." -0- Mark M. Levin lev·in n. Archaic Lightning. [Middle English levene, levin; see leuk- in Indo-European roots.] Chairman and C.E.O. CONTACT: Kimpex International inc. Mr. Brett Gannon, 819/472-3326 |
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