Raytec six month results
Raytec Capital Corp RCC
Shares issued 11,945,525 Jun 30 close $1.32
Fri 2 Jul 99 News Release
Mr. Jerry Minni reports
Six-month results
Raytec reached $3,157,208 in sales for the six month period ended April 30,
1999. This number represents a $302,371 or 12 per cent increase over the
same period in 1998.
Raytec's operating loss for the six month period ended April 30, 1999, was
$76,098 as compared to a loss of $180,355 during the same period in 1998.
The financial position of the company continues to be strong. Working
capital was $1,042,055 at April 30, 1999, compared to $1,049,255 at Jan.
31, 1999.
In the second half of fiscal 1999, the company is expecting a significant
increase in sales and earnings. In May, 1999, the company launched two new
products, ShrinkGuard for produce display cases and OdorGuard area
deodorizing sachets.
The new headquarters and manufacturing facility in Reno, Nev. is now
finished and the move into the new facilities will take place in July,
1999.
FINANCIAL HIGHLIGHTS
Six Months Ended April 30
1999 1998
Sales $3,157,208 $2,854,837
Operating Loss
Before Interest
and Amortization $(76,098) $(180,355)
Operating Loss
Per Share (one cent) (2 cents)
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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