Technovision Systems Inc -
Technovision first quarter results
Technovision Systems Inc TVS
Shares issued 9,837,188 1999-10-27 close $0.85
Thursday Oct 28 1999
Mr. Gordon Tremain reports
The company's first quarter (June 1, 1999, to Aug. 31, 1999,) financial results reflect a continuing significant growth trend when compared with the same period in the previous year. Highlights are:
1999 1998
Gross revenue $1,432,060 $ 963,919
Gross profit 780,145 496,646
Total assets 4,324,583 1,722,369
Working capital 721,498 58,717
Retained
earnings 442,639 (10,139)
Shareholders'
equity 2,768,785 1,395,007
Profit before tax 279,161 292,473
Meaningful increases have been recorded in all areas with the exception of profit before tax which dropped slightly as the company faces growing expenses. This rise can be attributed primarily to costs being incurred as the company restructures itself for rapid growth.
Management has stated previously its intent to actively pursue mergers and acquisitions and these activities are a continuing part of the company's strategy to firmly establish itself as one of the province's largest independent Internet service providers. |
