Printer Friendly

ROMAN CORPORATION INCREASES PROFIT THROUGH FIRST NINE MONTHS

 TORONTO, Nov. 17 /PRNewswire/ -- Roman Corporation Limited today reported earnings of $2,016,000 or $0.20 per common share on revenues of $34,761,000 for the nine months ended September 30, 1993. This compared to $1,582,000 or $0.13 per common share on revenues of $30,981,000 earned during the same period in 1992.
 Net income for the third quarter of 1993 was $400,000 or $0.04 per common share as compared to $644,000 or $0.07 per common share reported the previous year. Revenues for the period stood at $10,648,000 as compared to $10,332,000 in the third quarter of 1992.
 These results were realized in spite of downtime required during the third quarter for maintenance and for the implementation of capital improvements at the Company's operating division, Strathcona Paper Company. Helen Roman-Barber, Chairman and Chief Executive Officer of Roman Corporation said "the increase in revenue for the first nine months of this year was attributable in large part to gains in production and sales volume achieved by Strathcona during the period. It also reflects proceeds of $788,000 generated by the Company's sale of certain long-term investments."
 Pricing levels within the boxboard industry remain depressed although there are some signs of improvement in general industry business conditions.
 The Company recently acquired a forty percent interest in Maton Software Inc., a privately held company with offices in Toronto and Ottawa. Maton distributes and implements proprietary automated quality assurance software testing programs applicable to all hardware and software platforms. The Company's $250,000 investment will enable Maton to expand its presence in the Canadian marketplace. Mrs. Roman-Barber said "this investment will enable us to benefit from the growth of an innovative company in an increasingly important area of information technology and reflects our commitment to the pursuit of greater value for our shareholders."
 -0- 11/17/93
 /CONTACT: Michael Daniher of Roman, 416-967-3702/


CO: Roman Corporation ST: Ontario IN: PAP SU: ERN

WB -- NY101 -- 5687 11/17/93 16:44 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:Nov 17, 1993
Words:341
Previous Article:E-SYSTEMS DECLARES FOURTH QUARTER DIVIDEND
Next Article:EPA ORDERS FLORIDA DEPARTMENT OF TRANSPORTATION TO CLEAN UP FAIRBANKS BORROW PIT SITE IN FAIRBANKS, FLA.
Topics:

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