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Gold/Mining/Energy : KERM'S KORNER -- Ignore unavailable to you. Want to Upgrade?

To: Arnie who wrote (7771)	12/5/1997 8:49:00 PM
From: Herb Duncan	Respond to of 15196

EARNINGS / Hyduke Capital Resources Ltd. Announces its Six Month Financial Results ASE SYMBOL: HYD DECEMBER 5, 1997 EDMONTON, ALBERTA-- /T/ OPERATING DIVISION: B.W. RIG REPAIR & SUPPLY RELIABLE AIRFLOW CANWEST CRANE AND EQUIPMENT LTD. /T/ Hyduke Capital Resources Ltd. is pleased to announce the financial results of the company for the six months ended October 31, 1997. The Hyduke Group of Companies continues to show growth in both sales and earnings. Sales for the half year ended October, 1997 were $14,999,000. This compares to sales for the entire fiscal year ended April, 1997 of $15,107,000. As such Hyduke is on track to achieve its goal of doubling sales on a year-to-year basis. Earnings are showing even better performance as the efficiencies of integrating The Hyduke Group of Companies starts to show on the bottom line. Earnings for the six month period ended October, 1997 exceeded $1,092,000; as compared to annual earnings of $840,500 for the last fiscal year. This growth pattern is being driven by the continuing strong economic performance of the oil and gas industry in Western Canada. See following Schedule. /T/ Schedule FINANCIAL POSITION & OPERATING RESULTS (all financial figures presented in Canadian dollars) Key Balance Sheet Information (as at October 31, 1997) ----------------------------- Current Assets $ 9,996,655 Total Assets $ 11,860,575 Long-Term Debt $ 1,514,331 Shareholders' Equity $ 3,202,142 Income Statements (Six months ended October 31, 1997) ----------------------------------- Year Ended 1997 1996 Apr. 30, 1997 ---- ---- ------------- Sales $14,999,422 $ 6,720,614 $15,106,992 ----------- ----------- ----------- ----------- ----------- ----------- Net Earnings (Loss) $ 1,092,280 $ 359,957 $ 840,494 ----------- ----------- ----------- ----------- ----------- ----------- Average Shares o/s 7,418,000 6,625,000 6,625,000 ----------- ----------- ----------- ----------- ----------- ----------- Basic Earnings per Share $ 0.15 $ 0.06 $ 0.11 ----------- ----------- ----------- ----------- ----------- ----------- Cash Flow per Share $ 0.25 $ 0.11 $ 0.22 ----------- ----------- ----------- ----------- ----------- ----------- /T/ HYDUKE CAPITAL RESOURCES LTD. per: John Babic, CEO