Buhler Industries Inc. reports 3rd quarter earnings
Winnipeg, Manitoba
July 21, 2004
| 3 months to June 30, 2004 | Previous year | |
| Revenue Net profit Net profit/share |
$57,742,000 $4,361,000 0.17 |
$53,250,000 $3,782,000 0.16 |
| 9 months to June 30, 2004 | Previous year | |
| Revenue Net profit Net profit/share |
$162,679,000 $10,369,000 0.42 |
$140,706,000 $9,103,000 0.40 |
Revenue Increased
Third quarter revenue increased by 8% to $57.7 million compared with $53.3 million last year. Revenue for nine months increased by 16% to $162.7 million compared with $140.7 million last year.
Net Earnings Increased
Third quarter net earnings increased by 15% to $4.4 million ($0.17 per share) compared with $3.8 million ($0.16 per share) last year. Net earnings for nine months increased by 14% to $10.4 million ($0.42 per share) compared with $9.1 million ($0.40 per share) last year. The gain on the sale of capital assets contributed to the increase in net earnings. Recent unprecedented steel price increases are continuing to have a negative effect on net earnings. There were 25 million shares outstanding on June 30, 2004 compared with 23 million last year.
Looking Forward
While the farm economy seems to be strengthening, we remain cautious in forecasting future increases in earnings due to the reduced gross margins resulting from the continuing effects of BSE (Mad Cow disease), the weakened US dollar and the recent unprecedented increases in the cost of steel. We are forecasting fiscal 2004 earnings to be $0.51 to $0.53 per share.
Contact
Craig Engel - President
Phone: (204) 228-6206
E-mail: cengel@buhler.com
Click here for complete financial statement
Trading symbol: BUI