D.C. CORROSION CONTINUES ITS RECORD BREAKING GROWTH
EDMONTON, June 1 /CNW/ - Neil Magrath, President of D.C. Corrosion
Corporation is pleased to announce record revenues for the first nine months of operation for the 97/98 fiscal year. The nine-month revenue total of $5,545,379 represents an increase of 80% over the corresponding period of last year. Net income was up 130% to $493,657 for the same period, representing earnings per share of $0.04.
''The growth we have experienced is the result of hard work and
innovation. While it is substantial, it does not satisfy us. The Company is engaged in an ongoing review to see where we can improve both the quality and profitability of the services provided. The impact of this strategic re-alignment will produce substantial results in the fourth quarter. I am confident that our focus on providing clients with quality products and services, together with our efforts in research and product development, will lay the foundation for further growth and continued improvement in profitability. Our recent $2.4 million contracts for supply of products for the Sable Offshore Energy Project, are the first tangible manifestation of this growth.''
D.C. Corrosion Corporation, one of Canada's largest corrosion prevention companies, specializes in the prevention of environmental corrosion through the use of cathodic protection. The company provides corrosion consulting services, cathodic protection systems, hydro excavation services, materials, technologies and equipment to both private and public sectors.
This news release was approved by Neil Magrath, President, D.C. Corrosion Corporation, Phone: 403-464-0322.
(The Alberta Stock Exchange has neither approved or disapproved the information contained herein)
-0- 06/01/98
For further information: Patrick Starr, Investor Relations, (403) 423-0199, T/F: (888)
423-0199, Fax: (403) 423-0346, E-mail: quickcal@planet.eon.net |
