Pallet Pallet Inc - News Release
Year end and first quarter results
Pallet Pallet Inc PLT
Shares issued 30,241,611 Oct 31 close $0.165
Mon 3 Nov 97 News Release
Mr Douglas Moore reports
Sales revenues for fiscal 1997 were $95.6 million compared to $118.6
million for the same period in 1996. EBITDA (before non-reoccuring
expenses) was $1.0 million compared to last year's loss of $0.9 million.
The net loss of $5.2 million or $0.10 per share reported this year compares
with a loss of $8.6 million or $0.20 the previous year.
For the first quarter of fiscal 1998 ending August 31 1997, loss before
taxes was $149,000, or $0.00, based on revenues of $25.2 million,
generating EBITDA of $0.7 million. Comparative figures for the same period
of fiscal 1996, show earnings of $191,000, or $0.00, based on revenues of
$25.7 million, and an EBITDA of $1.0 million.
The company's financial performance was impaired by the efforts made to
restructure and refinance it, all with the purpose to move Pallet Pallet
from an acquisitions company to an operations based business. With the
completion of the company's financing, management can now move forward to
implement its business plan for growth and profitability.
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