Roman Corporation Announces Earnings Increase In 1997.TORONTO--(BUSINESS WIRE)--March 26, 1998--Roman Corporation Li(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :RMN RMN Reunion des Musées Nationaux (France) RMN Rocky Mountain News RMN Résonance Magnétique Nucléaire RMN Resonancia Magnética Nuclear (Spanish) RMN Registered Mental Nurse (UK) .) Roman Corporation Limited announced earnings of $2.7 million or $.27 per common share for the year ended December 31, 1997. This was after the deduction deduction, in logic, form of inference such that the conclusion must be true if the premises are true. For example, if we know that all men have two legs and that John is a man, it is then logical to deduce that John has two legs. of unusual items totaling $2.1 million for the year. This compares to earnings of $2.1 million or $.21 per common share for the previous year. Revenue increased slightly during 1997 from $51 million recorded during 1996 to reach $54 million. The unusual items include $1.3 million in expenses relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc a strike at the Company's operating division, Strathcona Paper, during the first quarter of 1997, and a charge to prepaid pre·pay tr.v. pre·paid, pre·pay·ing, pre·pays To pay or pay for beforehand. pre·pay  ment n. pension
expense in the amount of $857,000, again relating to Strathcona Paper
that occurred in the second quarter of 1997. These expenses are not
expected to reoccur and in spite of in opposition to all efforts of; in defiance or contempt of; notwithstanding.See also: Spite the short-term earnings impact in 1997, the long-term savings and benefits will make a substantial contribution to maintaining Strathcona's competitive position. Strathcona Paper remains one of the few forest product companies to remain consistently profitable through the peaks and valleys of the paper cycle. During 1997, Roman Corporation also realized gains Realized Gain A gain resulting from selling an asset at a price higher than the original purchase price. Notes: There may be tax consequences for a realized profit. on the sale of certain securities purchased as part of the Company's ongoing investment activities. Gains on the sale of securities reached $2.9 million during 1997 compared to $179,000 reported in 1996. The fair market value of the Company's remaining investment assets as at December 31, 1997 was $7.5 million compared to book value of $2.6 million. Roman Corporation is an asset management company with both operating and investment assets. The Company's goal is to maximize value by managing a portfolio of assets that provides stable 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 and investment diversification Diversification A risk management technique that mixes a wide variety of investments within a portfolio. It is designed to minimize the impact of any one security on overall portfolio performance. Notes: Diversification is possibly the greatest way to reduce the risk. . -0-
FINANCIAL HIGHLIGHTS
(dollars in thousands except per share amounts)
1997 1996 1995 1994 1993
Revenue $54,034 $50,831 $60,231 $52,566 $49,256
Per share $5.24 $4.93 $5.84 $5.10 $4.71
Net Earnings $2,738 $2,118 $1,322 $2,455 $2,911
Per share $0.27 $0.21 $0.13 $0.24 $0.28
EBDIT $5,858 $6,730 $5,987 $6,857 $7,206
Per share $0.57 $0.65 $0.58 $0.67 $0.69
Working
Capital $5,910 $4,426 $4,396 $5,548 $5,321
Per share $0.57 $0.43 $0.43 $0.54 $0.51
Equity $18,137 $16,431 $14,312 $12,976 $10,521
Per share $1.76 $1.59 $1.39 $1.26 $1.00
Total Assets $40,450 $38,450 $37,013 $31,001 $28,956
Per share $3.92 $3.73 $3.59 $3.01 $2.77
Long-term debt $7,375 $7,875 $9,375 $8,125 $9,250
LTD:Equity .41:1 .48:1 .66:1 .63:1 .88:1
EBDIT:Interest 10.3:1 7.5:1 3.7:1 6.1:1 5.9:1
LTD:Total
Assets .18:1 .20:1 .25:1 .26:1 .32:1
ROE 15 13 9 19 27
percent percent percent percent percent
CONTACT: Roman Corp. Ltd., Toronto P. Gael Mourant, 416/971-3329 |
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