TORONTO - CFM Corp. reported a stronger second-quarter profit on Wednesday, helped by a 51 percent increase in sales of its stoves, fireplaces and barbeques.
The Mississauga, Ontario-based firm reported net income of C$6.3 million ($4 million), or 15 Canadian cents per share, in the quarter ended March 30. This compared with net income of C$2.9 million, or 8 Canadian cents per share, in the corresponding period last year.
Revenues in the quarter rose to C$113.1 million from C$74.7 million.
Three analysts surveyed by Thomson Financial/First Call had expected, on average, a profit of 14 Canadian cents a share.
CFM also said it expects its fiscal 2002 earnings per share to come in between C$1.05 and C$1.15.
The company's stock was up 30 Canadian cents at C$16.50 in Toronto following the news. Since the start of the year, the stock has risen more than 25 percent, outperforming the Toronto Stock Exchange's industrial products subindex, which has fallen more than 18 percent. |
