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Gold/Mining/Energy : Churchill (CUQ), PE of 3! -- Ignore unavailable to you. Want to Upgrade?

To: diddlysquatz who wrote (61)	8/12/1998 5:27:00 PM
From: speculatingvalue	Read Replies (2) \| Respond to of 264

EDMONTON, Aug. 12 /CNW/ - The Churchill Corporation posted net earnings of $732,000 in the second quarter of 1998, an increase of 26% over the same period in 1997. Work-in-hand of $180 million at June 30, 1998 is double that in place at the end of the first half in 1997. Net Earnings for the six months ended June 30th are $1.25 million. This represents a significant operational improvement over the same period result in 1997 of $1.44 million, which included an unusual gain of $760,000 from a prior period construction claim and had no provision for income tax. Net Earnings, on a fully diluted basis, were $0.12 per common share for the six month period ended June 30, 1998 as compared to $0.08 for the same period in 1997. Contract Revenue in industrial construction continues to exceed 1997 levels while commercial construction activity has been slower to start but is accelerating as our substantial work-in-hand comes on stream. By year-end, the Corporation expects Contract Revenue to exceed $200 million. << ---------------------------------------------- 3 Months 3 Months 6 Months 6 Months Ended Ended Ended Ended 30-Jun-98 30-Jun-97 30-Jun-98 30-Jun-97 ---------------------------------------------- Construction Operations: Contract Revenue $45,637 $57,042 $86,046 $97,089 ---------------------------------------------- Gross Profit 3,292 3,597 6,546 6,940 Other Income 240 19 374 28 Indirect and Administrative Expenses (2,543) (2,925) (4,728) (5,034) Depreciation (135) (94) (254) (186) Interest (Expense) Income (195) 46 (405) 46 Minority Interest (53) 54 (134) 40 ---------------------------------------------- Earnings from Construction Operations 606 697 1,399 1,834 Non-Construction Operations: Earnings (Loss) before Depreciation and Interest 310 (2) 192 (197) Depreciation (8) (16) (16) (32) Interest Expense (57) (99) (114) (164) ---------------------------------------------- Net Earnings Before Tax 851 580 1,461 1,441 Income Tax - Current (29) - (29) - Income Tax - Deferred (90) - (180) - ---------------------------------------------- Net Earnings $732 $580 $1,252 $1,441 ---------------------------------------------- ---------------------------------------------- Net Earnings Per Common Share: Basic $0.08 $0.03 $0.13 $0.08 ---------------------------------------------- ---------------------------------------------- Fully Diluted $0.07 $0.03 $0.12 $0.08 ---------------------------------------------- ----------------------------------------------