Very nice movement today..careful not to sell your shares too early as there's lots more upside to come..here's full earnings report:
Royal Laser Tech Corporation
RLT TSE
March 10, 1999
Increased Revenues, Profit in Third Quarter
TORONTO, March 10 /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 its third quarter ended January 31, 1999.
Revenues for the Company's third quarter ended January 31, 1999 were $11,871,000 up from $4,452,000 in the
corresponding quarter of the previous year, an increase of 167%, representing the Company's highest quarterly revenues
to date. Revenues were $33,666,000 for the nine months ended January 31, 1999, an increase of 145% from the nine
month period ended January 31, 1998. The results from the Company's previous year 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.
Net earnings for the Company's third quarter were $1,503,000 up from $847,000 in the corresponding quarter of the
previous year, an increase of approximately 77%. Earnings per share for the three month period was $0.14 (on both a
basic and fully diluted basis) as compared to $0.11 and $0.10 on a fully diluted basis in the corresponding period of the
previous year. Net earnings for the nine months ended January 31, 1999 were $4,084,000 up from $2,374,000 for the
nine months ended January 31, 1998, an increase of approximately 72%. Earnings per share for the nine months was
$0.42 or $0.37 per share on a fully diluted basis compared to $0.33 and $0.31 on a fully diluted basis in the
corresponding period of the previous year.
The Company noted that the third quarter is typically one of the weakest in both its store fixture and automotive/industrial
divisions, yet this quarter has been the best quarter of fiscal 1999 to date. Gross margins were somewhat impacted by
start-up costs in its Mississauga plant, but this location is now profitable. The Company also noted its Mississauga and
Claireville plants successfully obtained ISO 9002 certification during this quarter.
Assets at January 31, 1999 stood at $51,067,000 and shareholders' equity was $36,576,000.
Bill Iannaci, President of Royal Laser stated, ''I believe that the third quarter held some key positive turning points for
the Company; by the end of the quarter we became profitable in our Mississauga facility, we strengthened our
automotive/industrial business by obtaining more outsourced work commitments and we received a number of large new
customer orders in our store fixture division. We continue to be very optimistic about our growth prospects.''
The common shares of Royal Laser trade on The Toronto Stock Exchange under the symbol ''RLT''.
For further information: Catherine Capon, Executive Assistant/Investor Relations, or Greg Van Staveren, Chief Financial
Officer, Royal Laser Tech Corporation, 25 Claireville Drive, Etobicoke, Ontario, M9W 5Z7, Telephone: (416)
675-2737, Facsimile: (416) 675-9156
This Report Updated by Canstock at 14:36:05 Pacific Time
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