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February 14, 2000
NEWS RELEASE NO. 00-003
Trading Symbol CDNX: CCB
US SEC Exemption No. 82-3378
RICHMOND, BC - Mr. James L. Swanson, Chairman of CON-SPACE COMMUNICATIONS LTD., (CDNX: CCB) announced today that the company's Second Quarter sales, ended December 31, 1999, were up 15% over this fiscal year's First Quarter.
"In spite of a general decline in the safety sector during the last half of calendar 1999, sales for the Second Quarter of fiscal 2000 were $652,232, up 15.1% over our previous quarter," said Swanson. "Many corporations held back spending to prepare for a Y2K calamity that never happened, but fortunately, year-end budget monies boosted sales in December and set the trend for January and February sales."
While sales for the Second Quarter were down slightly from the same quarter last year, total sales for the First Half of fiscal 2000 ended at $1,219,028, up 3.8% over the First Half of last year. Gross Profit in the Second Quarter also increased from 52% a year ago to 56% for this year. This increase was a result of improved inventory control and manufacturing procedures put into effect during the fall months.
Operating Expenses increased 20.5% over our 1999 Second Quarter and 16.2% over last year's first half. "We reduced many expenses during the Second Quarter" said Swanson, "which will be reflected in our third and fourth quarter."
After depreciation and amortization, a loss of $0.03 per share is reported for the half. This compares to a first half loss one year ago of $0.01 per share. "Our sales historically increase during our second half and all current indicators show that this year will be no exception," concluded Swanson.
During his announcement Swanson described the continuing growth in specialty markets such as "Domestic Preparedness", a US Government program to have all US cities trained, equipped and prepared to defend against acts of terrorism.
CON-SPACE manufactures unique voice communication
equipment that is used by general industry, municipalities, fire
and police departments, rescue teams and the military.
For more information, please call Shaheen Sidi, Controller, CON-SPACE COMMUNICATIONS LTD., (604) 244-9323, (800) 755-2528 in the U.S., or by e-mail [email protected]. The CON-SPACE web site is located at http://www.con-space.com. "Forward-looking" statements in this release involve risks and uncertainties associated with, among others, economic, industry conditions, technological development, and competition and should not be relied upon as actual results may differ materially from those projected.
and Safety
in Communication areHome | Products | Confined Space | Equipment Applications About CON-SPACE | Contact Us | Site Map | Links