CRS Robotics sailed right through this slowdown and hasn't been rewarded. It has BDAL like earnings and growth, but is given 1/5th the stock price. That many shares out? BDAL has 54.8 million. CRS has 1/5th that out.
>>BURLINGTON, ONTARIO, AUG 9, 2001 (CCN Newswire via COMTEX) -- CRS Robotics Corporation (TSE: ROB chart, msgs) announces that sales for the three months ended June 30, 2001 are $7,209,000 versus $3,735,000 in 2000 - an increase of 93%. For the six months, sales increased by 71% to $13,895,000 from $8,129,000 last year. Net income for the quarter, before amortization of goodwill, was $308,000 verses $146,000 and for the year to date was $710,000 verses $184,000 last year. Earnings per share, before amortization, for the quarter was $0.03 verses $0.02 last year and for the six months earnings per share improved to $0.07 from $0.02.
"We achieved our earnings per share goal in the second quarter, before amortization of goodwill. It was an outstanding quarter and one in which all employees can be justifiably proud.
"The second quarter represented a record for customer commitments. Many commitments were from repeat customers and there was a good blend of European and North American business. We also had significant orders for individual building blocks where customers can utilize the power of our proprietary software and mover technologies to build application specific solutions to fit their own needs", said Ralph Steedman, President & CEO of CRS Robotics Corporation.
In addition to reaching its earnings per share objective, the company accomplished the following during the quarter:
* Installed its first two protein expression platforms for proteomics research at a research facility in the Toronto area.
* Grew organic sales by 52%.
* Filed a patent application covering a new modular, highly flexible, automation technology that will improve throughput and productivity by 400% compared to existing conventional application specific platforms in Genomic and Proteomic research.
* Began work on expanding the Burlington manufacturing facility by 30% to accommodate the company's continued sales growth.
* Welcomed an additional 20 new employees into the CRS family, increasing our staffing levels to 157 employees as at the end of June.
* Achieved record productivity targets within manufacturing, leading to substantial positive manufacturing variances.
* Obtained customer commitments exceeding $12 million.
"We are right on track to achieving our overall goals of greater than industry average revenue growth at increased levels of profitability", added Mr. Steedman.
Gross profit increased from $1,875,000 to $3,296,000, an increase of 76%. On a year-to-date basis gross profit increased from $3,766,000 to $6,544,000, a 74% increase. Margin levels, on a percentage of sales basis remained healthy at 45.7% for the quarter and 47.1% to-date.
Summary of results are set out below (unaudited, 000's except per share amounts):
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Three Months Six Months
Ended June 30 Ended June 30
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2001 2000 % Change 2001 2000 % Change
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Revenue $7,209 $3,735 93.0 $13,895 $8,129 70.9
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Net Income before
Goodwill Amortization $308 $146 111.0 $710 $184 285.9
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Earnings Per Share
before Goodwill
Amortization $0.03 $0.02 50.0 $0.07 $0.02 250.0
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Goodwill Amortization $279 $6 $669 $12
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Net Earnings $29 $140 $41 $172
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Earnings Per Share
after Goodwill
Amortization $0.00 $0.02 $0.00 $0.02
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Basic Weighted Average
Shares Outstanding 10,098 8,443 19.6 10,039 8,443 18.9
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s increases were achieved in all regions in comparison to last year. Canadian sales increased by 75%, sales to the United States increased by 48%, Europe increased by 109% and Asia increased by 105%. The investment into a direct sales force is paying off in substantially increased sales in all regions.
CRS has been acknowledged as one of the few companies on the forefront of laboratory automation technology. Core competencies of the company include integrated lab automation solutions using advanced software in biotechnology and pharmaceutical research applications marketed worldwide. In addition, CRS manufactures and supplies robotic systems for advanced manufacturing niche markets. CRS is headquartered in Burlington, Ontario and has subsidiaries in the United States and Europe. Further information can be found at the company's web site at www.crsrobotics.com.<<
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What am I missing? Tirckle buys 1000 T.ROB at current ask of $3.
Cheers, Tuck |
