Peerless Carpet Corp Message Board

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Gold/Mining/Energy : Peerless Carpet Corp

PRG 30.18

-0.4%

Dec 23 3:59 PM EST

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To: robin hood who wrote (69)	8/17/1998 10:31:00 AM
From: djenning1998	of 85

PRG - Toronto Peerless Carpet Corp. (T.PRG), Montreal, said the 1997 revenue figures include revenues from discontinued operations, totalling C$4 million in the quarter and C$9 million for the six months. The company said a revenue shortfall in the broadloom business, mainly in the commercial segment, hurt profitability. "The high fixed operating cost of the company relative to the manufacturing volume renders the business very sensitive to such changes in volumes," he said. In the residential segment, it said delays in meeting sample delivery schedules to retailers created by a four-month strike of the company's sample makers, coupled with the on-going construction workers strike in Ontario, prevented Peerless from achieving planned growth in the second quarter. It said it expects the softness in shipments to continue into the third quarter, with improvement in the fourth quarter from the commercial segment and in the residential segment from pent-up demand in new housing. Peerless Carpet us a carpet maker. (END) DOW JONES NEWS 08-17-98 10:04 AM

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