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Gold/Mining/Energy : LGS Group Inc. Y/2000 -- Ignore unavailable to you. Want to Upgrade?

To: Gilbert Drapeau who wrote (128)	3/23/1999 1:05:00 PM
From: Gilbert Drapeau	Read Replies (1) \| Respond to of 169

LG Technologies Group Inc. - First Quarter 1999 : Sales Increase by 55 percent and profitability Improves MARCH 23, 1999 LAVAL, QUEBEC--Mr. Gilles Lauriault, President and Chief Executive Officer of LG Technologies Group inc. announced today that the Corporation has achieved a sales increase of 55 percent in its first quarter and consequently renews its profitability following a major restructuring of its operations and production processes. LG Technologies Group Inc. has in fact recorded sales of $19.9 million during the first quarter of 1999, an increase of 55 percent compared to $12.8 million reported for the same quarter in 1998. These sales resulted in a net profit $424,000 or $0.04 per common share, compared with a net profit of $28,000 or $0.003 per common share for the first quarter of 1998. These results positively reflect a number of decisions taken by the Corporation during the previous year. The Operation Efficiency Improvement Program in the electronic contract manufacturing activities has already netted tangible results. In addition, the manufacturing agreement with NORTEL has resulted in a major increase for our turnkey sector or activity. LG Technologies Group Inc. intends to maintain this trend by continuing its operation efficiency and quality improvement programs, while managing a growth of over 50 percent. Already well established in the telecommunications sector, LG Technologies Group Inc. is pursuing its development strategy by widening its customer base in the information, medical instrument and automotive sectors. "The Future of LG Technologies Group Inc. is very promising", concluded Mr. Lauriault optimistically. The common shares of LG Technologies Group Inc. are listed on the Montreal Exchange and the Toronto Stock Exchange under the ticker symbol LGM.