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Gold/Mining/Energy : BADGER DAYLIGHTING INC. IS GROWING FAST! -- Ignore unavailable to you. Want to Upgrade?

To: SofaSpud who wrote (12)	6/29/1998 11:05:00 PM
From: Ian Munro	Respond to of 24

Looking Good: Received the following a little while ago: ----------------------------------------------------------------- Subject: BADGER DAYLIGHTING ANNOUNCES 1998 SECOND QUARTER FINANCIAL RESULTS Date: Mon, 29 Jun 1998 15:20:27 -0400 From: portfolio@newswire.ca To: "Portfolio Email User" <portfolio@newswire.ca> Attention Business/Financial Editors: BADGER DAYLIGHTING ANNOUNCES 1998 SECOND QUARTER FINANCIAL RESULTS RED DEER, AB, June 29 /CNW/ - Badger Daylighting Inc., (''Badger'', the ''Corporation'') is pleased to report its unaudited financial results for the six-month period ended May 31, 1998. << (Millions of $CDN, unless noted) 1998 1997 Change Revenues $ 49.7 $ 9.7 + 412% EBITDA $ 14.3 $ 2.0 + 615% Net Income $ 6.2 $ 0.9 + 589% Weighted Average Number of Shares 15.7 11.1 (millions of shares) Basic E.P.S. (dollars per share) $ 0.40 $ 0.08 + 400% Cash flow per share from operations (dollars per share) $ 0.60 $ 0.18 + 233% Capital Expenditures $ 16.7 $ 3.7 + 351% >> Net income for the six-month period year ended May 31, 1998 was $ 6.2 million as compared to $0.9 million in the same period of 1997, an increase of 589%. Revenues for the six months of 1998 were $ 49.7 million, an increase of more than 412% over 1997. Basic Earnings per share for the six months ended May 31, 1998 were $0.40, an increase of 400% compared to $0.08 in the first six months of 1997. Ken Rose, President and CEO of Badger, commented, ''We continue to be extremely pleased with the performance of our operating divisions, despite the traditional industry slowdown experienced as a result of spring break-up. During the second quarter, our Delta operating division continued it's high activity levels and our Bomega division fabricated 4 new hydrovac units, bringing Badger's total number of operating units to 56. We also completed the acquisition of a controlling equity interest in Baseline Technologies Inc., which provides Badger with access to technologies that will expand our pipeline integrity services and provide an additional high margin revenue stream to the Corporation. During the coming months, Badger will continue to seek out additional acquisitions of complimentary companies and technologies to augment our internal growth and expect these activities to accelerate the consolidation of hydrovacing services in Canada as we expand internationally.'' Badger Daylighting Inc., is a Red Deer, Alberta - based vertically integrated industrial technology company providing various services and equipment to the oil and gas, pipeline and utilities industries. The Corporation specializes in ''daylighting'' underground structures and trenching using a patented hydrovacing process that is safer than conventional mechanical excavation systems. ''Daylighting'' is a term used in the industry to describe the removal of the soil cover to allow visual observation of an underground structure. A hydrovac excavating system is one which simultaneously uses water under high pressure to remove soil cover and a vacuum system to suck up the debris. In addition to hydrovac services, Badger provides a complimentary suite of products and services to it's customers including small inch pipeline facilities and construction, pipeline anomaly locating, line locating, shoring and designing and manufacturing industrial equipment. The Toronto Stock Exchange has neither approved nor disapproved the contents of this press release. %SEDAR: 00003620E -0- 06/29/98 For further information: Ken Rose, President and CEO, or Brian Anderson, Vice President, Corporate Development, (403) 343-0303, Fax:(403) 343-0401 ---------------------------------------------------------------------- Release sent courtesy of Canada NewsWire Portfolio Email. portfolio.newswire.ca