| 3 months to June 30, 2003 | Previous year | |
|---|---|---|
| Revenue | $53,250,000 |
$70,976,000 |
| Net profit | $3,782,000 |
$5,059,000 |
| Net profit / share | $0.16 | $0.22 |
| 9 months to June 30, 2003 | Previous year | |
|---|---|---|
| Revenues | $140,706,000 |
$194,275,000 |
| Net profit | $9,103,000 |
$11,840,000 |
| 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
E-mail: cengel@buhler.com
Trading symbol: BUI