Buhler Industries Inc. reports 1st quarter earnings
Winnipeg, Manitoba
January 20, 2003
| 3 months to December 31, 2002 | Previous year | |
| Revenue Net profit Net profit/share |
$38,653,000 $1,985,000 0.09 |
$55,395,000 $2,950,000 0.13 |
Revenues Return to Normal
As forecasted, the first quarter revenue decreased to $39 million compared with $55 million last year. The Company was able to increase its’ dealer direct sales by 70%. As anticipated, this gain did not fully offset the loss of revenue from the wind-down of the OEM tractor supply contract with CNH Global.
Net Earnings Return to Normal
As forecasted, first quarter earnings decreased to $2.0 million or $0.09 per share compared with $0.13 per share last year. The number of shares outstanding is 23.0 million.
Dividend
The Company increased its' annual dividend for the 10th consecutive year from $0.11 to $0.12 per share. The dividend will be paid on January 29th, 2003, to shareholders of record on December 30th, 2002.
Contact
Craig Engel - President
Phone: (204) 228-6206
E-mail: cengel@buhler.com
Click here for complete financial statement
Trading symbol: BUI