Q2 results - sales +160%, net earnings +457%
Jean-Robert, these results easily surpass the CFO's estimates made in February
Message 8020025
We should be seeing more and more about Aastra's role in the upcoming
Royal Bank/Mondex e-cash pilot in Sherbrooke too.
July 15, 1999
TORONTO, ONTARIO--Aastra Technologies Limited -(TSE/ASE: "AAH") is
pleased to report that revenue and earnings continued to grow
rapidly during the second quarter of 1999. These results represent
the Company's ninth consecutive quarter of revenue growth and
fifth straight quarter of record earnings.
Net sales for the three months ended June 30, 1999 were
$21,236,900, a 160 percent increase from sales of $8,168,900 for
the same period in 1998. Net sales for the six months ended June
30, 1999 were $39,337,000 compared to $13,217,700 in 1998. With
continued success in the United States, sales to telephone
companies ("Telcos") were $14.0 million for the second quarter
compared to $4.8 million for the same period last year, an
increase of 192 percent. In addition, retail sales reached $7.2
million in the second quarter, a 110 percent increase from retail
sales of $3.4 million in 1998.
Net earnings also grew significantly during the second quarter to
$1,143,500 or $0.12 per share from net earnings of $205,400 or
$0.03 per share last year, a 457 percent increase. Excluding
interest and income taxes, operating income during the second
quarter reached a record $1,787,700 or 8.4 percent of sales from
$226,800 or 2.8 percent of sales last year. For the six months
ended June 30, 1999 net earnings grew to $2,051,300 or $0.22 per
share compared to $81,700 or $0.01 per share for the same period
last year.
The Company is also pleased to announce that on June 3, 1999 its
common shares began trading on the Toronto Stock Exchange. This
important milestone in the history of the Company occurred three
years after its initial public company listing on the Alberta
Stock Exchange.
Aastra Technologies Limited develops and distributes
telecommunications equipment. Aastra offers a full line of
products ranging from Caller ID adjuncts to full-featured
communications systems. Aastra sells to the majority of the
telecommunication companies in North America. In the retail
market, Aastra has the exclusive license to use the "BELL(
Equipment-SONECOR" trademark for telephone sets and its products
are distributed to Wal-Mart, Circuit City, Radio Shack, Future
Shop and other mass retailers.
/T/
AASTRA TECHNOLOGIES LIMITED
1999 SECOND QUARTER HIGHLIGHTS
(Canadian Dollars)
Year-to-date six months ended June 30, 1999 1998
--------------------------------------------------------------
Net sales for the period $39,337,000 $13,217,700
Operating income for the period $ 3,260,900 $ 120,100
Net income for the period $ 2,051,300 $ 81,700
Basic earnings per share for
the period $ 0.22 $ 0.01
Fully diluted earnings per share
for the period $ 0.21 $ 0.01
Three months ended June 30, 1999 1998
--------------------------------------------------------------
Net sales for the period $21,236,900 $ 8,168,900
Operating income for the period $ 1,787,700 $ 226,800
Net income for the period $ 1,143,500 $ 205,400
Basic earnings per share for
the period $ 0.12 $ 0.03
Fully diluted earnings per share
for the period $ 0.11 $ 0.03
Common shares outstanding - 9,347,101 (1998 - 8,416,942)
/T/
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Aastra Technologies Limited
Mr. Allan Brett
V-P Finance & CFO
(416) 736-7070, ext. 360
abrett@aastra.com
The Toronto and Alberta Stock Exchanges have neither approved nor
disapproved of the information included in this press release. |
