9mo results
Boyd Group Inc (The) BYD.A
Shares issued 6,109,994 Nov 19 close $1.60
Fri 20 Nov 98 News Release
Mr. Terry Smith reports
The interim report to shareholders for the nine months ended Sept. 30, 1998
will reflect continuing aggressive growth and profitability. Sales for the
nine months were nearly $19-million, representing an increase of over 61
per cent over the same period last year. Operating earnings (earnings
before interest, taxes, depreciation, amortization, and non-controlling
interest) increased approximately 108 per cent to $1.68-million or 8.9 per
cent of sales, from $0.81-million or 6.9 per cent of sales in the prior
year. Net earnings were $310,969 or 5 cents per share. Operating cash
flow was $1.23-million or 15.1 cents per share.
This is the first year Boyd has operated as a public company. The 1997
comparative figures are therefore those of the business of Boyd under a
prepublic company structure.
The results reflect the impact of both the prior year's and current year's
growth. Year to date, 13 locations have been acquired by Boyd, representing
approximately $19-million in annualized sales. This growth has nearly
doubled the annual revenues of the company from its exit 1997 position.
Current operations, excluding in-process and pending transactions, now
represent annualized revenues of approximately $41-million.
The company is on track and will continue with its growth plan. With its
1998 goal of doubling in size effectively achieved, the company is now
working on acquisitions which will contribute to its 1999 goal of again
doubling in size. Concurrent with its growth efforts, the company will
continue to work on strengthening its operations through initiatives like
customer satisfaction indexing, gross profit improvement, ISO 9002 and many
more.
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