Year end and first quarter results
Redux Energy Corp
RDX
Shares issued 9628524
1997-07-15 close $1.3
Wednesday Jul 16 1997
Mr Blaine Maller reports
The company is continuing to experience steady growth in sales, as reflected in the
company's year end financial results and its first quarter financial report.
For the year ended March 31 1997, the company reported a major increase in revenue
to $1,941,988 compared to $705,321 for the same period in 1996. Net earnings at the
end of the year rose to $341,921 in 1997 compared to $115,984 in 1996. The year end
audit resulted in the deferral of $543,513 in revenue and $252,311 in income from the
fourth quarter of 1997 to the first quarter of 1998.
The company's wholly owned subsidiary, Thermal Control Technologies Corp, (TCT)
manufactures a line of innovative charge air coolers for use on Freightliner, Kenworth,
Peterbilt and Navistar Class 8 trucks at its manufacturing facility in Lincoln, Nebraska.
Models for Ford, International, Western Star, Volvo and Mack trucks are currently in
development for introduction this year. Incorporating revolutionary technology, TCT's
Charge Air Cooler is the only after-market charge air cooler offering a five
year/500,000 mile warranty.
The company's profit of $252,000 was deferred to the first quarter due to product
delivery. This resulted in earnings per share of $0.032 at year end 1997. Although this
is more than double the $0.014 per share earnings experienced in 1996.
For the three month period ended June 30 1997, the company's net earnings per share
were $0.052 as compared to $0.001 for the same period in 1996. Revenue for the
three month period ended June 30 1997 was $1,589,011 compared to $146,243 for the
same period in 1996. Net earnings for the period were $599,979 compared to $14,137
for the same period in 1996.
The company is establishing a new sales record every month and its distribution and
dealer network continues to expand throughout North America.
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Sounds good to me? Why didn't you post it Mike???
1Q EPS =0.05
0.05 X 4 quarters = 1998 eps of .20. not allowing for any acceleration as the other TCTs are developed ...using a PE of 15 (probably conservative -- should be a P/E of 20) gives a price of $3 in the next year.
However 98EPS of .25 (some acceleration) and P/E of 20 gives $5 shares price -- better than most mining stocks currently -- like rdx fundamentals a lot.
Regards,
VC
P.S. Mike, I still can't believe how short your post was? Wife calling you? <<Let me apologise now just in case>> |
