Hi again Bryan,
Here are the numbers for Q3:
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: CARBITE GOLF INC.
VSE SYMBOL: CAB
DECEMBER 2, 1996
Carbite Golf Inc. Reports Five (5) Times Sales Growth
Achieved in Nine Months, 1996
VANCOUVER, BRITISH COLUMBIA--Carbite Golf Inc. is pleased to
report that its subsidiary, Carbite, Inc. of San Diego, has
achieved sales of $8.8 million US for nine months ending September
30, 1996, over 5 times the sales level for the same period in 1995
and more than 12 times the sales level for the same period in
1994.
Net Operating Income for nine months ending September 30, 1996 was
$1,609,053 US, and after an allocation of $649,076 US profit to
its minority partner in Viper Bite, the Net Income was $945,497 US
as compared to a net loss of $69,356 US for the same period in
1995. Carbite Golf Inc. has signed a letter of intent to acquire
the minority partner interest in Viper Bite as announced in a
press release dated September 26, 1996. Sales growth was mainly
due to increased retail distribution.
Carbite Golf Inc. is pleased to report, further to its news
releases of November 22, 1995 announcing a private placement of
800,000 units at $1.00 CDN with warrants at $1.00 CDN exercisable
up to October 31, 1996, that all of the warrants have been
exercised and that $800,000.00 CDN has been added to its working
capital.
Carbite, Inc. manufactures wedges, putters and iron sets under the
trademarks CheckMate, Tru-Spin, Viper Bite and Dual-Density.
ON BEHALF OF THE BOARD
RONALD L. REIMER,
President and Director
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Lewis, England & Associates, Inc.
(501) 376-0222
(501) 376-6690 (FAX)
1-888-376-3900 US/CAN
The Vancouver Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
====================================================================
That's USñ$0.056/share for 9 months! Annualized, that figure works out to $0.075 but they probably won't do proportionately the same sales for the fianl quater. Let's say $0.065/share for the year - trailing earnings. A reasonably conservative multiplier of 20 gives a share value of US$1.20/share or C$1.62 - again remember this is trailing earnings.
If you inject some speculation here, it is definitely at the bottom of its trading range at C$1.25.
Bill |
