Con-Space profits skyrocket 1066%
TSX Venture Exchange: Tier 1
Trading Symbol TSX-Ven: CCB
RICHMOND, BC, April 30 /PRNewswire-FirstCall/ - James L. Swanson,
Chairman, CON-SPACE Communications Ltd., (TSX-VEN: CCB) announced that once
again the Company has set a new quarterly sales record with sales of
$1,886,498 for its third quarter of fiscal 2003 ended March 31, 2003, giving a
new yearly sales record and profits up a whopping 1,066.5% over the previous
year.
"Our first three-quarters of fiscal 2003 has shown continued phenomenal
growth closing with year-to-date sales of $3,805,793. That is a 76.2 percent
increase over the $2,159,494 in sales for the same period last year," reported
Swanson. "Our net profit has skyrocketed as a result, jumping to a record
breaking $755,751, that is $0.09 per share. This compares to a net profit of
$64,789, or $0.01 one year ago. We have seen a 1,066.5 percent increase in
profits year-over-year and all indications continue to point upwards well into
the future."
Sales for the third quarter were $1,886,498 giving a 167.0% increase over
the $706,514 for the same quarter a year ago. Operating expenses for the third
quarter were $394,478 compared to last year's second quarter of $312,173. For
the first three-quarters of fiscal 2003 ended March 31, 2003 operating
expenses closed at $1,090,629 up 17.8% from $926,250 one year earlier.
Resulting operational profits (before amortization, depreciation and
taxes) were $478,877 or $0.05 per share for the third quarter and $815,700 or
$0.09 per share for the first three-quarters of fiscal 2003 compared to last
year's third quarter operating profit of $25,373 or $0.00 per share and the
first three-quarters operating profit of $179,469 or $0.02 per share.
Net profit for the third quarter, ended March 31, 2003, closed at
$458,886 or $0.05 per share giving a first three-quarters net profit of
$755,751 or $0.09 per share. This compares to last year's third quarter net
loss of $13,823 or $(0.00) per share and a first three-quarters net profit of
$64,789 or $0.01 per share. The result is a 1,066.5% improvement in net profit
this year over last.
"We are so very proud of our staff, factory reps, dealers and
distributors in showing what belief and conviction can do. It is through their
efforts that the company's progress has been achieved," concluded Swanson.
CON-SPACE has been continually showing increased sales and profits over
the last two years. Its growth in popularity as the leader of specialized
communication equipment has propelled it to being the company of choice not
only for its own unique products but also for the products it builds for other
major manufacturers. The Company's website is at www.con-space.com
For more information, please call James L. Swanson, Chairman, CON-SPACE
COMMUNICATIONS LTD., (604) 244-9323, (800) 755-2528 in the U.S., or by e-mail
invest@con-space.com. The CON-SPACE web site is located at con-
space.com. "Forward-looking" statements in this release involve risks and
uncertainties associated with, among others, economic, industry conditions,
technological development, and competition and should not be relied upon as
actual results may differ materially from those projected.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
SOURCE Con-Space Communications Ltd.
/CONTACT: James L. Swanson, Chairman, CON-SPACE COMMUNICATIONS
LTD.,604-244-9323, 800-755-2528 in the U.S., or by e-mail
invest@con-space.com;The CON-SPACE web site is located at
con-space.com |
