STATEMENT OF EARNINGS
Three months ended March 31
1998 1997
Sales $ 19,691,162 $ 6,250,911
Cost of
goods sold 10,304,532 4,814,920
------------ ------------
Gross
profit 9,386,630 1,435,991
------------ ------------
Operating
expenses
Interest
expense 142,517 52,127
Administrative
and
selling 5,526,793 640,950
Depreciation
and
amortization 1,243,057 636,954
------------ ------------
6,912,367 330,031
------------ ------------
Operating
profit (loss) 2,474,263 105,960
Minority
interest 1,276,748 -
------------ ------------
Income (loss)
before the
undernoted 1,197,515 105,960
Income tax
provision 24,805 62,507
------------ ------------
Net income (loss)
from continuing
operations 1,172,710 43,453
Recovery from
discontinued
operations - 206,782
------------ ------------
Net income
(loss) $ 1,172,710 $ 250,235
============ ============
STATEMENT OF EARNINGS
Nine months ended March 31
1998 1997
Sales $ 39,158,969 $ 16,473,830
Cost of
goods sold 23,499,937 13,041,722
------------ ------------
Gross
profit 15,659,032 3,432,108
------------ ------------
Operating
expenses
Interest
expense 649,862 60,755
Administrative
and
selling 10,175,066 2,075,153
Depreciation
and
amortization 2,714,233 1,496,670
------------ ------------
13,539,161 3,632,578
------------ ------------
Operating
profit (loss) 2,119,871 (200,470)
Minority
interest 1,276,748 -
------------ ------------
Income (loss)
before the
undernoted 843,123 (200,470)
Income tax
provision 196,608 13,278
------------ ------------
Net income (loss)
from continuing
operations 646,515 (213,748)
Recovery from
discontinued
operations 356,000 723,771
------------ ------------
Net income
(loss) $ 1,002,515 $ 510,023
============ ============
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