Wednesday July 21, 9:08 pm Eastern Time
Company Press Release
Summary of 60% Interest in Earnings for Subsidiary, Sibmach Font
TORONTO--(BUSINESS WIRE)--July 21, 1999--LEAH INDUSTRIES, INC. (OTC-LEAH) is pleased to report a summary of its 60% interest in the unaudited earnings (for the calendar year ending December 31, 1998 and for the five months ending May 31, 1999) for its subsidiary, SibMach Font as follows:
Based on averaged published historical interbank rates for the period at issue, Russian Rubles to United States Dollars. Rate used for 1999 was 1 Ruble = .04138 Dollars. Rate used for 1998 was 1 Ruble = .12558 Dollars. The rates to be used are subject to change if required for SEC or GAAP financial reporting.
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Leah Industries, Inc. (net 60% interest in Sib Mach)
unaudited unaudited
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(5 months) (12 months)
Jan 1 - Dec 31, 1999 Jan 1 - May 31, 1998
U.S. Dollars (rounded)
Revenues $59,587,200 $113,022,000
Cost of sales 47,173,200 90,417,600
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Gross Profit 12,414,000 22,604,400
Selling Expenses 1,489,680 4,520,880
General & Administrative 993,120 2,260,440
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Operating Income
Before Income Tax 9,931,200 15,823,080
Income Tax Expense 1,241,400 4,520,880
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Net Income From Subsidiary $8,689,000 $11,302,200
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CAUTIONARY STATEMENT: This news release may include certain ''forward-looking statements'' within the meaning of Section 21 E of the United States Securities Exchange Act, as amended, and/or the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included in this release are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. All forward-looking statements in this release are expressly qualified by this notice.
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Contact:
LEAH INDUSTRIES, INC.
Birte Boock, CEO
416/221-1642
Robert Barger
210/375-1335
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More Quotes and News: LEAH - news
Related News Categories: earnings
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Sorry about the formatting, I'm sure a better version will be posted.
Good luck.
Baldur F. |
