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Gold/Mining/Energy : LGS Group Inc. Y/2000 -- Ignore unavailable to you. Want to Upgrade?

To: BM who wrote (87)	11/17/1997 8:42:00 PM
From: BM	Respond to of 169

Q2 earnings - revenues and profits up NOVEMBER 17, 1997 LGS Reports Increase in Net Earnings MONTREAL, QUEBEC--LGS Group Inc. is pleased to announce its financial results for the period ended September 30, 1997. Consolidated revenues for the quarter reached $28,734,000 compared to $21,411,000 for the same period last year. This represents an increase of 34.2 percent. Profits improved significantly to $680,000 or $0.07 per share increasing by 252 percent from $193,000, or $0.02 per share last year. For the six month period, consolidated revenues totaled $56,222,000 compared to $41,367,000 last year representing an increase of 35.9 percent from the prior year. Net profit stood at $1,253,000 or $0.13 per share, an increase of 227 percent over net profits of $383,000 or $0,04 per share last year. Year 2000 transformation activities continued to grow in the quarter. Revenues in this area are increasing and the Company now has 57 contracts. Moreover, as expected, operations in Europe continued to improve during the quarter. In addition, the Company is pleased to report that it has concluded the previously announced $5 million investment in LGS transaction by the Y2K Investment Funds managed by EFO Holdings Inc. from Dallas, Texas. This new business relationship will allow LGS to grow its Y2K business sector and to benefit with valued expertise and additional market intelligence. LGS Group Inc. is an international information technology service firm, headquartered in Canada and specializing in systems integration and management consulting. LGS, whose annual sales exceed $100 million, is a major Year 2000 transformation provider and employs approximately 1,400 professionals located in 15 offices in Canada and Europe. /T/ FINANCIAL RESULTS PRESS RELEASE NOVEMBER 17, 1997 LGS GROUP INC. For the quarter For the 6 month period ended September 30 ended September 30 _______________________________________________ 1997 1996 1997 1996 _______________________________________________ Revenues $28,734,000 $21,411,000 $56,222,000 $41,367,000 Net earnings (net loss) $680,000 $193,000 $1,253,000 $383,000 Net earnings per share (loss per share) $0.07 $0.02 $0.13 $0.04