Comptec Industries Ltd -
Year end results
Comptec Industries Ltd CIL
Shares issued 17,626,231 1998-11-17 close $1.55
Wednesday Nov 18 1998
Mr. Robert Gardner reports
Total revenues for the fiscal year ended June 30, 1998 were
$60,798,100, a 177 per cent increase from $21,956,229 reported for
the year ended June 30, 1997. The company reported net income of
$1,091,437 for the period ended June 30, 1998 compared to a net loss
of $366,359 for the corresponding period ended June 30, 1997. The
operating profit was $1,516,030 compared to an operating loss of
$1,028,246 for the corresponding period in the prior year.
EBITDA for the year ended June 30, 1998 was $7,245,287 compared with
$1,832,071 for the year ended June 30, 1997. As a result of the
acquisition of Technoplast, assets have increased to $67,378,687 as
of June 30, 1998, from $17,265,803 as of June 30, 1997, an increase
of over $50 million. Shareholders' equity has also increased to
$19,961,144 as at June 30, 1998 from $10,656,048 as at June 30,
STATEMENT OF EARNINGS
Year ended June 30
1998 1997
Sales $60,798,100 $21,956,229
Cost of
goods sold 40,787,741 17,956,281
----------- -----------
Gross profit 20,010,359 3,999,948
----------- -----------
Operating
Expenses
Interest
expense 1,515,247 296,262
Admin &
selling 13,121,072 2,891,833
Depreciation &
amortization 3,858,010 1,840,099
----------- -----------
18,494,329 5,028,194
----------- -----------
Operating
profit (loss) 1,516,030 (1,028,246)
----------- -----------
Income tax
provision 780,593 62,069
----------- -----------
Income (loss)
from operations 735,437 (1,090,315)
Recovery from
discontinued
operations 356,000 723,956
----------- -----------
Income (loss) $ 1,091,437 $ (366,359)
=========== ===========
Income (loss)
per share
From continuing
operations 5 cents (10 cents)
From dis-
continued
operations 2 cents 7 cents
----------- -----------
Net income
(loss) per
share 7 cents (3 cents)
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