Second quarter results ended November 30, 1996.DRUMMONDVILLE Drummondville, city (1991 pop. 35,462), S Que., Canada, on the St. Francis River, NE of Montreal. Its manufactures include textiles, paper and wood products, and rubber goods. , Quebec--(BUSINESS WIRE)--Jan. 21, 1997-- KIMPEX (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). ;ME KPX KPX Korea Power Exchange KPX Kilo Pixel KPX Kodak Picture Exchange ) -0-
Second Quarter Results ended November 30, 1996
($Cdn 000)
3 months 6 months
__________ _________
1996 1995 1996 1995
____ ____ ____ ____
Sales 20.4 21.2 35.1 39.8
Net Income (Loss) 0.4 (0.4) (1.0) (1.6)
E.P.S. (Loss) $0.01 $(0.03) $(0.01) $(0.15)
-0- The following message to shareholders will appear in the second quarter report to shareholders: "Sales for the three months ended November November: see month. 30, 1996, the Company's second fiscal quarter, were $20.4 million compared to $21.2 million for the same period last year. The second quarter resulted in a profit of $0.4 million or $0.01 per share, compared to a loss of $0.4 million, or $0.03 per share, for the same quarter last year. For the six months ended November 30, 1996, revenues were $35.1 million compared to $39.8 million for the same period last year. The net loss for this period of $1.0 million, or $0.01 per share, compares to a net loss of $1.6 million, or $0.15 per share, for the same period last year. This year's results reflect the benefits of lower debt and interest expense resulting 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 in the third quarter of last year, and the significant cost savings resulting from the full integration of our new management information system, our warehouse reorganization and reductions in head office personnel. The third quarter, which is generally our Company's strongest quarter in terms of sales Terms of sale Conditions under which a firm proposes to sell its goods or services for cash or credit. and profitability, should begin to reflect the significant strides that we have achieved in new product development. We continue to focus our attention on building our market position in 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. which we believe represents our largest opportunity for future growth. We have overcome many obstacles and undergone significant change. However we are now well positioned for the future and look forward to reporting a profitable second half for fiscal 1997." CONTACT: Kimpex International Inc., Drummondville Brett Gannon, 519/659-0508, ext. 265 |
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