GOOD NEWS ON THE WPEC FRONT, FWIW FOR US POOR BATTERED AUGI SHAREHOLDERS. Kathy
VANCOUVER, Wash., Oct. 13 /PRNewswire/ -- Western Power & Equipment Corp. (Nasdaq:
WPEC - news), an independent dealer of construction, agricultural, and industrial equipment, today
reported record revenues of $163.5 million for its fiscal year ended July 31, 1998, a 10 percent
increase over the $148.1 million in revenues for the prior fiscal year and the fifth consecutive year of
record revenues. Earnings for the year were $1.84 million compared to $0.97 million in fiscal 1997,
an 89 percent increase. For fiscal 1998, earnings per share was $0.49 (diluted), an 81 percent
increase over the $0.27 per share (diluted) reported in fiscal 1997.
Fourth quarter revenues totaled a record $45.9 million, up 15 percent from $39.9 million in the same
quarter a year ago. Net income for the fourth quarter of $0.61 million or $0.17 per share (diluted),
compared to a net loss of $0.34 million or $0.09 per share (diluted) in last year's fourth quarter.
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