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Non-Tech : EARNINGS REPORTING - surprises, misses & more
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To: 2MAR$ who wrote (125)7/23/2000 2:37:02 AM
From: 2MAR$  Read Replies (1) of 762
 
7/11....Canada's Exfo Reports Record Earnings, Sales

QUEBEC CITY (Reuters) - EXFO Electro-Optical Engineering Inc. (NasdaqNM:EXFO - news) (Toronto:EXF.TO - news) on Tuesday announced record earnings and sales for the third quarter, thanks to new fiber optic products it launched during the quarter.

Sales increased 78 percent to $19.4 million for the third quarter of 2000 from $10.9 million for the same period a year ago. Net income increased 69 percent to $2.75 million, or seven cents a share, for the third quarter from $1.62 million, or four cents a share, for the same period in fiscal 1999. The quarter ended on May 31.

``This quarter marks another period of records for sales and net income for EXFO,'' Germain Lamonde, EXFO chairman, president and chief executive said in a statement. The company launched an initial public offering (IPO) on June 30.

EXFO stock jumped 8-4/16 on Tuesday at 68-3/16 on Nasdaq with more than 2.5 million shares changing hands. Since the IPO, shares of EXFO have traded as high as 70-1/2 on Nasdaq and almost tripled their value.

On the Toronto Stock Exchange, shares in EXFO closed at C$100.50, up C$11.25, on Tuesday. The stock hit a record high of C$103 earlier in the day, from a 52-week high of C$98.
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