|3 months to June 30, 2003||Previous year|
|Net profit / share||$0.16||$0.22|
|9 months to June 30, 2003||Previous year|
|Net profit / share||$0.40||$0.51|
As forecast, Q3 revenue returned to a more normal level of $53.3 million compared with $71.0 million last year. Year to date, the Company has increased its’ dealer direct sales by 50%. As anticipated, this gain has not fully offset the loss of revenue resulting from the wind-down of the OEM tractor supply contract with CNH Global.
Nine-month earnings returned to a more normal level of $9.1 million or $0.40 per share compared to $0.51 per share last year. The number of shares outstanding is 23.0 million.
Management expects that Q4 earnings will exceed last year’s. We are forecasting annual 2003 earnings of $0.50 per share compared with $0.58 last year. Our core products are maintaining steady sales increases in spite of the continuing sluggish farm economy.
Craig Engel - President
Phone: (204) 228-6206
Trading symbol: BUI