Printer Friendly

DEVELCON ELECTRONICS ANNOUNCES RESULTS

 SASKATOON, Saskatchewan, Jan. 12 /PRNewswire/ - Develcon Electronics Ltd. today announced its unaudited results for the three months ended Nov. 30, 1992 as follows (Canadian funds):
 DEVELCON ELECTRONICS LTD.
 Unaudited Results
 Three month periods
 ended Nov. 30 1992 1991
 Sales and customer
 service revenue $2,896,000 $2,034,000
 Income (loss) before
 interest and depreciation 197,000 (190,000)
 Interest and depreciation 173,000 304,000
 Net income (loss) 24,000 (494,000)
 Income (loss) per share $ .003 $ (.06)
 Unaudited results reflect net income for the quarter ended Nov. 30, 1992 of $24,000 or $.003 per share versus a loss of $494,000 or $.06 per share for the same period in 1991. No income tax recovery on the loss for the three months ended Nov. 30, 1991 has been recorded.
 The weighted average number of shares outstanding was 7,680,168 for the three months ended Nov. 30, 1992, and the three months ended Nov. 30, 1991.
 Increased sales of LAN bridging products combined with the relative weakening of the Canadian dollar contributed to first quarter profitability for the company. Interest costs have been significantly reduced as a result of the recently proposed financial restructuring agreed to in principle between Develcon, an employee-owned company, SEDCO and another major creditor. The company looks forward to continued improvement over historical levels of sales and profitability.
 -0- 1/12/93
 /CONTACT: W.D. Vancoughnett, president and chief financial officer of Develcon Electronics Ltd., 306-933-3300/


CO: Develcon Electronics Ltd. ST: Saskatchewan IN: CPR SU: ERN

WB -- NY115 -- 4187 01/12/93 16:37 EST
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:Jan 12, 1993
Words:262
Previous Article:NATIONAL COMMUNITY BANKS, INC. REPORTS EARNINGS GAINS FOR THE FOURTH QUARTER AND FULL YEAR
Next Article:KEMPER CORP. DECLARES 100TH QUARTERLY CASH DIVIDEND
Topics:


Related Articles
DEVELCON ELECTRONICS ANNOUNCES YEAR END RESULTS
DEVELCON ELECTRONICS ANNOUNCES ITS UNAUDITED RESULTS
DEVELCON ELECTRONICS REPORTS RESULTS FOR SIX MONTHS ENDED FEB. 29, 1992
DEVELCON ELECTRONICS REPORTS RESULTS
DEVELCON ELECTRONICS LTD. REPORTS RESULTS
DEVELCON ELECTRONICS ANNOUNCES AGREEMENT
DEVELCON ELECTRONICS LTD. ANNOUNCES AGREEMENT CLOSING
DEVELCON ELECTRONICS LTD. REPORTS RESULTS
DEVELCON ELECTRONICS LTD. APPOINTS VICE PRESIDENT OF MARKETING
Simmonds Capital Limited and Vianet Technologies, Inc. Form Strategic Alliance For the Development and Manufacturing of Communication Products.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters