Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Wenzel Downhole Tools Ltd (WZL) - was Master Downhole -- Ignore unavailable to you. Want to Upgrade?

To: Ciao who wrote (102)	10/20/2001 1:06:52 PM
From: Nick Morvay	Read Replies (1) \| Respond to of 104

In the following release there was mention of a Q4 large international contract to be acquired. Is this the reason for the move? Anyone know more?? WENZEL DOWNHOLE TOOLS LTD ("WZL-T;WENDF-0") - Second Quarter Results and International Contract The Management of Wenzel Downhole Tools Ltd. is pleased to announce both the Companies second quarter results and the long promised International sale that will bring operating margins in line with historical performance. Having changed the corporate year-end at December 31, 2000, the current six-month period ended June 30, 2001 has been compared to the six months ended May 31, 2000. Comparison Total revenue for the six-month period ended June 30, 2001 was 8% higher than the period ended May 31, 2000. Once again the mix between sales and rental was significantly different than the comparative period. * Canadian revenues were 121% higher in the six months ended June 30, 2001 than in the period ended May 31, 2000. * United States revenues were 232% higher in the period ended June 30, 2001 than in the period ended May 31, 2000. * International sales were once again significantly lower than the comparable prior period. Outlook The Company has been issued a purchase order for a large International contract that will be delivered in the fourth quarter of the current year. This one contract should add $0.08 per share to the current year's earnings per share. * Wenzel has re-organized its sales team in both Canada and the United States. These changes are designed to take advantage of the Company's expanded fleet of drilling tools. * The United States is expected to increase its contribution to oil and gas based revenues while continuing to expand in the utility markets. * The Company has many exciting new drilling technologies in development. While no new drilling technique is proven until it has successfully performed downhole, management believes the new products will increase market share in conventional markets and create new markets for our existing product lines. Actual results for the six months ended June 30, 2001 were: June 30 May 31 2001 2000 unaudited unaudited Revenue Canada $12,036,133 $ 5,431,607 United States 3,411,297 1,025,544 International 1,334,379 9,116,093 Total Revenue $16,781,809 $15,573,244 Gross Profit $ 7,789,083 $ 9,824,905 Net After tax earnings $ 1,555,265 $ 4,877,749 Fully diluted Earnings per Share $ 0.05 $ 0.16 TEL: (403) 215-5979 Mr. Scott Koyich, Wenzel Downhole Tools Ltd. Toll-Free: 1-877-434-3388 Email: investor.info@home.com Website: www.downhole.com ______________________________________ ___________________________________________________________________ (c) Market News Publishing Inc. Tel:(604) 689-1101 All rights reserved. Fax:(604) 689-1106 MarketbyFax(tm) - To get the NEWS as it happens, call (604) 689-3041.