Boring company, Global Railway (GBI)
NR from 3/26/03
Mike Kohut, President of Global Railway Industries Ltd. stated 'The completion of the financing agreement and the term loan will allow Global to complete the purchase of G&B very shortly. It is expected that the purchase of G&B will approximately double Global's revenues and profitability. After taking into account the issue of the Subscription Receipts and the new credit facility put in place to purchase G&B, the transaction is expected to be significantly accretive on a per share basis to Global. The issue of Subscription Receipts also enhances our already strong balance sheet and will position the Company to continue to profitably grow its operations in the future both organically and through acquisitions'.
Latest 9 month financials;
Financial Highlights (unaudited):
3-months 3-months 9-months 9-months
Consolidated ended ended ended ended
Financial September 30, September 30, September 30, September 30,
Statements 2002 2001 2002 2001
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Revenues $3,805,353 $2,060,916 $9,968,593 $5,236,839
EBITDA $ 644,819 $ (27,905) $1,993,381 $ 483,693
Net earnings $ 524,039 $ (121,203) $1,604,016 $ 210,785
Earnings-per-share
Basic: $ 0.09 $ (0.02) $ 0.26 $ 0.04
Fully-diluted: $ 0.09 $ (0.02) $ 0.25 $ 0.04
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About Global Railway Industries: Global Railway Industries is a
fast-growing manufacturer of railway equipment. The Company is pursuing an
acquisition strategy of industry manufacturers that produce and sell railways
the equipment they need to run and maintain their operations efficiently.
Global Railway Industries Ltd. is a public company whose shares are listed for
trading on the Toronto Stock Exchange (TSX) under the symbol "GBI". The
Company has a total of 7,373,672 fully diluted shares outstanding. For more
information visit www.globalrailway.com. |
