First quarter results/TecSyn International Inc
TSN
Shares issued 53037948
1997-01-28 close $0.63
Wednesday Jan 29 1997
News Release
Mr Zoltan Simo reports
For the first quarter ended November 30 1996, the company had net income of
$160,142 or $0.00 per share compared to net income of $706,313 or $0.01 per
share a year ago. Sales for the quarter were $13,671,987 which was 3.7% ahead
of last year's first quarter sales of $13,181,210. Earnings were lower partly due to
PMP's losses being expensed this year compared to being deferred last year.
The company's Polytech Netting Division's new equipment installed in Mexico in
late 1996 is performing well.
The company's PMP business is expected to make significant progress in 1997
with the anticipated first small engine cylinder liner orders during the year. This
business unit is also pursuing other specialty applications which can be
commercialized in the near term.
FINANCIAL HIGHLIGHTS
Three months ended November 30
1996 1995
Revenue $13,671,987 $13,181,210
Net income $ 160,142 $ 706,313
Net income per share $0.00 $0.01 |
