Printer Friendly

MTC ISSUES CORRECTION TO HISTORICAL 1992 EARNINGS FIGURES ANNOUNCED EARLIER TODAY

 RICHMOND, British Columbia, Oct. 5 /PRNewswire/ -- MTC Electronic Technologies Co. Ltd. (NASDAQ: MTCEF) issued a correction to the 1992 financial figures in connection with its release of second quarter and first six months 1993 earnings announced earlier today (NY013). Current earnings for the second quarter and first half of 1993 remain the same but under the corrected figures, the company's losses in the same periods last year were greater. Despite the correction, the company still recorded an increased profit for second quarter and first half 1993.
 The correct figures for 1992 are:
 Net loss after tax for the second quarter 1992 as C$720,000, or a loss of $0.09 per share. First half 1992 net loss was C$1.26 million.
 First half per share loss was $.16 in 1992 versus $0.00 per share for the first half of 1993.
 The company mistakenly used non-restated financial data from 1992 for comparative purposes. Restated 1992 and 1991 figures were announced in connection with MTC's year-end 1992 financials issued in June 1993.
 MTC Electronic Technologies Co., Ltd. is a Canadian company headquartered in Richmond, near Vancouver, British Columbia. The company holds interests in joint venture companies that manufacture telecommunications products and will provide telecommunications services in the People's Republic of China. It also manufactures and sells MTC brand and private-label consumer electronics in North America.
 -0- 10/5/93
 /CONTACT: Peter Verrengia or Cindy Carpenter of Fleishman-Hillard, 212-265-9150, or Sammy Liang of MTC Electronic Technologies Co. Ltd., 604-278-8788/
 (MTCEF)


CO: MTC Electronic Technologies Co. Ltd. ST: British Columbia IN: TLS SU: ERN

SM-WB -- NY080 -- 9093 10/05/93 17:46 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:Oct 5, 1993
Words:272
Previous Article:MACKAY'S SYNDICATED COLUMN TO DEBUT IN MID-OCTOBER
Next Article:YPF SOCIEDAD ANONIMA DECLARES QUARTERLY DIVIDEND
Topics:

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