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Gold/Mining/Energy : Techmire (TCM) turnaround/lead PE of 4! -- Ignore unavailable to you. Want to Upgrade?

To: M. Merriam who wrote (78)	12/7/1999 9:42:00 AM
From: Crane	Read Replies (1) \| Respond to of 83

At a quick glance it looks like an impressive quarter... Tuesday Dec 7 1999 Mr. Stephen May reports Techmire has posted record net earnings of $569,816 for the first quarter ended Oct. 31, 1999, a year-over-year improvement of 125 per cent. "The year is off to a strong start and we are confident new die-casting machines recently unveiled will fuel our growth this year," stated Stephen May, president and chief executive officer. Basic earnings per share for the quarter more than doubled to 20 cents from nine cents for the same period of 1998, while earnings per share on a fully diluted basis improved by 180 per cent to 14 cents from five cents last year. Sales for the quarter increased by 17 per cent to $4.5-million, EBITDA (earnings before interest, taxes, depreciation and amortization) grew by 78 per cent to $908,529 and the net margin improved to 12.7 per cent from 6.6 per cent, all compared with the same period in the previous year. Working capital was $3,631,981 at the end of the first quarter, representing an increase of 76 per cent over the previous year. Mr. May commented: "These first quarter results are the best we have achieved to date. The higher sales and earnings have resulted mainly from the new products we have launched over the past several months, together with cost reductions from our team approach to continuously improving the company's operations. We have had excellent feedback from the new 24 NTX and 46 NTX machines that we exhibited at recent indusry trade shows, and expect additional orders in the near future." Mr. May added: "The fact that we are now listed on the TSE should provide us with added visibility at a time when the company foresees significant internal growth and is looking at other opportunities. Enhancing shareholder value is something we take very seriously at Techmire, and our listing on the TSE dovetails perfectly with our progress over the past year." Year 2000 issue Management believes that Techmire will not encounter significant difficulty as a result of the Year 2000 issue. The company's products are Y2K compliant. All critical hardware, software and production equipment used within the Techmire group have been evaluated and tested for Y2K compliance, and upgraded or replaced where necessary. Key suppliers of goods and services have provided assurances concerning their own Y2K readiness. A contingency plan is in the final stages of preparation. FINANCIAL HIGHLIGHTS Three months ended Oct. 31 1999 1998 Sales $4,501,306 $3,840,315 EBITDA 908,529 509,308 Financing 48,398 71,728 Depreciation and amortization 185,514 184,699 Provision for income taxes (1) 104,801 - Net earnings 569,816 252,881 Long-term debt (2) 1,251,253 1,999,169 Shareholders' equity 6,002,141 3,734,709 Working capital 3,631,981 2,066,505 Earnings per common share 20 cents 9 cents