| 3 months to June 30, 2004 | Previous year | |
|---|---|---|
| Revenue | $57,742,000 |
$53,250,000 |
| Net profit | $4,361,000 |
$3,782,000 |
| Net profit / share | $0.17 | $0.16 |
| 9 months to June 30, 2004 | Previous year | |
|---|---|---|
| Revenues | $162,679,000 |
$140,706,000 |
| Net profit | $10,369,000 |
$9,103,000 |
| Net profit / share | $0.42 | $0.40 |
Third quarter revenue increased by 0.9% to $58.3 million compared with $57.7 million last year. Revenue for nine months increased by 3.3% to $168.1 million compared with $162.7 million last year.
Third quarter net earnings decreased by 38.8% to $2.7 million ($0.11 per share) compared with $4.4 million ($0.17 per share) last year. Net earnings for nine months decreased to $8.4 million ($0.34 per share) compared with $10.4 million ($0.42 per share) last year. Last year’s third quarter earnings were higher due to the $1.6 million gain on the sale of capital assets. As at June 30, 2005, the total number of shares outstanding remains at 25 million.
Revenue for the next 5 quarters are expected to match the previous year’s levels, however, we do forecast that our slow and steady gross margin improvement will continue and margins in the range of 18% - 20% are anticipated through the end of F2006. We will continue to monitor GSA expenses and will continue with necessary R&D expenses, which are required to retain our long term competitiveness in the marketplace.
Craig Engel - President
Phone: (204) 228-6206
E-mail: cengel@buhler.com
Trading symbol: BUI