CORAL GABLES, Fla., July 7 /PRNewswire/ -- Madera International Inc.
(OTC Bulletin Board: WOOD) announced preliminary results for its fiscal
year ended March 31, 1997. The revenues for the fiscal year were
$4,487,080 versus $792,109 for the same period last year. The earnings for
fiscal 1998 were $1,541,847 or $0.021 per share versus a loss of $118,000
or $0.001 per share for fiscal 1996.
"Madera is quite pleased with its achievements for fiscal year 1998. The
Company has been expanding its production in response to the increasing
demand for its tropical hardwood products worldwide which has resulted in
record revenues and earnings for the fiscal year just ended." said Ramiro
Fernandez-Moris, Chairman, President & CEO of Madera International Inc.
"Madera is also proud that this growth has not been achieved at the expense
of the region's conservation efforts which received national recognition
recently when the American Environmental Review televised a segment on
local public television channels focusing on the conservation programs of
Madera International Environmental, Inc., one of the Company's subsidiary."
Fiscal Year Ended March 31,
1997 1996
Total Revenues $4,487,080 $792,109
Net Income (Loss) 1,547,847 (118,000)
Net Income (Loss)
per share $0.021 $(0.001)
Madera International Inc. is the only publicly traded company which
specializes exclusively in growing and harvesting tropical timber under an
approved forest management program. The Company manufactures and markets
mahogany, spanish cedar and other hardwood forest products worldwide. The
Company owns approximately 729,000 acres of tropical hardwood timberlands
in Brazil and 76,000 acres in Peru and operates two mills. The Company's
wholly owned subsidiary, Madera International Environmental, Inc., oversees
environmental protection programs initiated by the Company which include
"Own a Tree(TM)", "Replant a Tree(TM)," and "Replant a Tree for Kids(TM)".
For more information, these programs, visit their websites at
www.replantatree.com and www.ownatree.com.
SOURCE Madera International Inc.
/CONTACT: Patricia Meding of Forte Communications, Inc., 212-785-6300,
for Madera International/
/Web site: replantatree.com
/Web site: ownatree.com
(WOOD) |
