Net earnings increased 218.8% to $21.9 million ($0.88 per share on 25 million shares) compared with $6.9 million ($0.27 per share on 25 million shares) in 2007. The current yearÕs earnings include $7.2 million of debt forgiveness shown as net of $2.09 million in taxes.
| Year ending September 30, 2008 | Previous year | |
|---|---|---|
| Revenue | $218,955,000 |
$166,189,000 |
| Net profit | $21,910,000 |
$6,872,000 |
| Net profit / share | $0.88 | $0.27 |
| Shares issued (millions) | 25.0 | 25.0 |
Revenue is up 31.9% to $219.0 million compared with $166.2 million last year. The stability of the Canadian dollar and increasing demand for high horsepower tractors in overseas markets had a positive impact on revenue.
Net earnings for the year ending September 30th, 2008 were $22.0 million compared with $6.9 million last year. Gross profit was $43.9 million (20.0% of sales) for 2008 compared to $28.5 million (17.1% of sales) last year. The number of shares outstanding at year-end was 25 million.
Willy Janzen, Chief Financial Officer
Phone: (204) 654-5718
E-mail: wjanzen@buhler.com
Trading symbol: BUI