Printer Friendly

CLEARLY CANADIAN ANNOUNCES SECOND QUARTER OPERATING RESULTS

 VANCOUVER, British Columbia, Aug. 12 /PRNewswire/ -- Clearly Canadian Beverage Corp. (NASDAQ-NMS: CLDF; Vancouver: CLV) today announced operating results for its second quarter and six months ended June 30, 1993. (All figures are in U.S. dollars.)
 For the quarter, net income totaled $2,276,000, equal to $.15 per share, on revenues of $33,385,000. For the same period in 1992, net income, was $5,266,000, or $.34 per share, on revenues of $60,570,000.
 For the six months ended June 30, net income totaled $4,078,000, or $.27 per share, on revenues of $54,493,000. For the same period of the previous year, net income equaled $8,983,000, or $.58 per share, on revenues of $101,146,000.
 "Although operating results were below those of the comparable prior year period, case sales and earnings were ahead of the preceding quarter," said Douglas L. Mason, president and chief executive officer. For the past three quarters, case sales have increased each quarter. In addition, gross dollar profits per case have increased from $1.49 per case in the first quarter of 1993, to $1.72 in the second quarter of 1993.
 "Clearly Canadian's balance sheet remains strong and free of long term debt," continued Mason. "The company's working capital ratio is a healthy 4.7-to-1, and inventory has declined 26 percent since the start of this year.
 "We are committed to managing costs and directing all our efforts to building our brand on an international scale," added Mason. "This has been demonstrated recently by our new distribution agreements for Mexico and the United Kingdom."
 Clearly Canadian Beverage Corp. produces and markets Clearly Canadian(R), a line of bottled mineral waters and flavored sparkling water beverages. Through distribution agreements, Clearly Canadian is sold throughout the United States, Canada, Japan, the United Kingdom, the Republic of Ireland and the Caribbean and Mexico.
 -0- 8/12/93
 /CONTACT: Douglas L. Mason, president and CEO of Clearly Canadian, 604-683-0312, (toll free in U.S) 800-663-5658, or (toll free in Canada) 800-663-0227/
 (CLDF)


CO: Clearly Canadian Beverage Corp. ST: British Columbia IN: FOD SU: ERN

JB -- LA010 -- 2075 08/12/93 11:02 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 12, 1993
Words:364
Previous Article:ATRIX LABORATORIES ANNOUNCES THIRD QUARTER AND NINE MONTH RESULTS
Next Article:LASERMASTER TECHNOLOGIES, INC. ANNOUNCES FOURTH QUARTER PROFITS OF $.08 PER SHARE ON $19.7M SALES
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters