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Technology Stocks : RLT Royal Laser Technology (tse) -- Ignore unavailable to you. Want to Upgrade?

To: Mario Gallant who wrote (12)	3/5/1999 8:37:00 AM
From: Ken O'Connor	Read Replies (2) \| Respond to of 69

Here was their last results news release in December. I would say look for similar results in their up coming release scheduled for end of next week. TORONTO, Dec. 15 /CNW/ - Royal Laser Tech Corporation, a leader in the production of custom, metal and wood based products using advanced laser-based, computer integrated manufacturing systems, announced today the release of its financial results for the six months ended October 31, 1998. Revenues were $21,796,000 for the six months ended October 31, 1998, an increase of 135%. The comparative results for the six month period ended October 31, 1997 did not include results of Seven Continents which was acquired April 30, 1998 and which now forms part of the company's store fixture division. Revenues for the Company's second quarter were $11,427,000 up from $5,550,000 in the corresponding quarter of the previous year. Net earnings for the six months ended October 31, 1998 were $2,580,000 up from $1,527,000 for the six months ended October 31, 1997, an increase of approximately 69%. Earnings per share for the six months was $0.28 or $0.23 per share on a fully diluted basis compared to $0.23 and $0.22 on a fully diluted basis in the corresponding six months of the previous year. Net earnings for the Company's third quarter were $1,215,000 up from $1,043,000 in the corresponding quarter of the previous year. While the Company is not dissatisfied with these results, it does note that the quarter was negatively impacted by strikes at three of its significant customers, delays in certain store fixture shipping dates from October to November 1998 and by ongoing costs relating to the start-up of its Mississauga facility. Assets at October 31, 1998 stood at $48,741,000 and shareholders' equity was $35,066,000. Bill Iannaci, President of Royal Laser stated, ''the second quarter was a challenge for management with the customer strikes, start-up costs in Mississauga, and ongoing integration with Seven Continents, but in spite of the challenges we managed to maintain a reasonable degree of profitability. November 1998 was our best sales month ever and we continue to be optimistic about our 1999 fiscal year. The Company is getting stronger and continues to grow.'' Regards Ken