Summary Operating Results for Fiscal Year Ending December 31,1999.Business Editors SURREY, B.C.--(BUSINESS WIRE)--March 22, 2000 Integrated Paving Concepts Inc. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :IPA IPA - International Phonetic Alphabet .) releases today, unaudited summary operating results for the 12 months ending December 31, 1999. During the 12 months ending December 31, 1998, revenue increased 8% to $10,741,482. The increase in revenue is directly attributed to a 49% increase in sales to customers outside of North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . Overhead increased in 1999 as the Company embarked on its new product development mandate and its increased distribution services as described in its Oct. 13, 1999 News Release. By the end of 1999 the Company had completed the hiring process to have 20 Territory Managers in position to provide technical and marketing support to its Licensed North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. StreetPrint Applicators. Integrated Paving 12 Months Ending 12 Months Ending Concepts Inc. December 31, 1999 December 31, 1998 Summary Operating Results Revenue $10,741,482 $9,917,814 Net Income before depreciation, interest and income taxes 1,811,278 2,253,145 Depreciation and amortization 426,915 379,953 Interest Expense (Income) (95,487) (31,884) Net earnings before income taxes 1,479,850 1,905,076 Income taxes 678,600 840,568 Net earnings $801,250 $1,064,508 Earnings per share $0.10 $0.13 Annual General Meeting The Annual General Meeting of Integrated Paving Concepts Inc. will be held in Surrey on June 22, 2000. The annual report containing complete audited financial statements will be mailed to the shareholders on or before May 19, 2000. Shares of Integrated Paving Concepts Inc. trade under the symbol IPA on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. . Information regarding this news release, Integrated Paving Concepts Inc., or its products can be obtained by calling Caren Holtby, Investor Relations Investor relations The process by which the corporation communicates with its investors. 604/574-7510 ext.300 or email: caren.holtby@streetprint.com. Integrated Paving Concepts Inc. Brent Barker barker a term for an animal that does not usually bark which makes a violent respiratory effort, often during a convulsion, accompanied by a sound which roughly resembles a dog's bark. , Vice President Finance |
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