GLENEX INDUSTRIES REPORTS YEAR END RESULTS
GLENEX INDUSTRIES REPORTS YEAR END RESULTS TORONTO, Aug. 12 /PRNewswire/ -- Glenex Industries Inc.
(NASDAQ: GLXIF) today released results for its fiscal year ended March 31, 1992. Net loss for the year was $8.5 million or $.95 a share compared to a loss of $7.7 million or $.85 per share in 1991. Loss from continuing operations was $4.4 million or $.48 per share (1991 - loss of $4.7 million or $.52 per share) and losses of discontinued operations were $4.1 million ($2.9 million in 1991). During the year the company discontinued the operations of Colorization Inc. and Stampede Industries, its specialty chemicals division.
The 1992 loss from continuing operations includes provisions for the write-down of oil and gas properties and other capital assets of $2.2 million (1991 - $2.4 million). Revenues from continuing operations decreased to $4.5 million in the current year from $5.2 million in 1991. -0- 8/12/92 /CONTACT: Norman Glick or Elaine Carlebach of Glenex Industries, 416-962-9292; or FAX 416-962-8730/ (GLXIF) CO: Glenex Industries Inc. ST: Ontario IN: OIL SU: ERN
SH -- NY073 -- 6312 08/12/92 15:45 EDT
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|Date:||Aug 12, 1992|
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