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Gold/Mining/Energy : Peerless Carpet Corp -- Ignore unavailable to you. Want to Upgrade?

To: robin hood who wrote (35)	4/2/1998 1:40:00 PM
From: Scott Mc	Respond to of 85

Earnings out look real good Year end results Peerless Carpet PRG Shares issued 12,606,009 Apr 1 close $2.80 Thu 2 Apr 98 News Release Mr Jeff Casselman reports Net earnings for the year ended December 31 1997 were $3.0 million or $0.23 per share compared with a loss of $12.3 million or $0.97 per share last year. Sales were $196.8 million including $12.3 from discontinued and sold operations, compared with $226.3 million including $36.6 million related to discontinued and sold operations a year ago. Term and bank indebtedness net of cash deposits was reduced to $55.4 million, a decrease of $26 million from last year's figure of $81.6 million. The company's debt to equity ratio significantly improved, going from 4:1 to 2:1. This was made possible by the company's non-strategic overseas businesses, liquidation of aged inventories and the adoption of improved management procedures including just-in-time order processing. Overall gross margins as a percentage of sales improved by 1.8% in 1997. The increase resulted from a combination of stronger gross margins in the Canadian broadloom business in Canada, elimination of the lower margin business derived from Brumlow Mills in the US and the company's cost reduction plan. Also as a direct result of the cost reduction plan, selling, general and administrative expenses were 14.3% on lower overall sales, compared with 16.0% last year. STATEMENT OF EARNINGS Three months ended December 31 ($ 000s) 1997 1996 Sales Operating divisions $ 44,196 $ 49,317 Discontinued divisions Brumlow - 2,548 Allied - 86 Bath and floor Australia (44) 1,491 Europe - 4,374 --------- --------- (44) 8,499 --------- --------- Total company sales 44,152 57,816 --------- --------- Operating earnings (loss) 3,024 (10,678) --------- --------- Net earnings (loss) $ 1,926 $ (10,650) ========= ========= Earnings (loss) per share $0.15 $(0.84) STATEMENT OF EARNINGS Year ended December 31 ($ 000s) 1997 1996 Sales Operating divisions $ 184,593 $ 189,689 Discontinued divisions Brumlow - 8,497 Allied - 8,690 Bath and floor Australia 2,237 5,407 Europe 10,017 13,995 --------- --------- 12,254 36,589 --------- --------- Total company sales 196,847 226,278 --------- --------- Operating earnings (loss) 7,831 (7,789) --------- --------- Net earnings (loss) $ 3,012 $ (12,283) ========= ========= Earnings (loss) per share $0.23 $(0.97) (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com

To: robin hood who wrote (35)	4/29/1998 2:29:00 PM
From: Scott Mc	Read Replies (1) \| Respond to of 85

News Release, couldn't find any info on Magic.Scott Partnership with Magic Marketing Peerless Carpet PRG Shares issued 12,606,009 Apr 28 close $3.35 Wed 29 Apr 98 News Release Mr. Jeff Casselman reports Peerless Carpet has formed partnership with Magic Marketing dedicated to retail floorcovering. The first new initiative from this alliance under the banner Your HomeStyle, provides a total solutions package for independent North American floorcovering retailers addressing the varied lifestyle needs of today's consumer. Magic Marketing, through its America's Carpet Gallery division, has 150 member stores covering 40 states. More than doubling its membership in 1997, America's Carpet Gallery is the fastest growing group of independent floorcovering retailers in North America. O. Sands Woody, Jr., a recognized innovator of many floorcovering industry retail programs and president of ACG, will head up the partnership assuming the title of COO. Roger Ardston, an industry veteran, former CEO of Independent Floorcovering Dealers of America Inc. and former owner of a successful 18 store retail floorcovering chain, has been appointed executive vice-president of the partnership. The rollout of the Your HomeStyle banner in Canada will commence within the next few weeks with selected independent floorcovering retailers across the country. America's Carpet Gallery is based in Roanoke, Virginia with sales and marketing offices in Acworth, Georgia. America's Carpet Gallery offers the most comprehensive consumer focused marketing services in the floor covering industry. Its services include exclusive brands, advertising, merchandising, training and promotion compatible with the varying lifestyles of today's discriminating consumers. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com