November 30, 2000
NEWS RELEASE NO. 00-018
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 the Company's results for its fiscal year 2001 First Quarter. The quarter ended on September 30, 2000.
"Our First Quarter of Fiscal Year 2001, ended with sales of $598,925," said Swanson, "this is a 5.7 percent growth over the previous year's $566,796 First Quarter sales. Our new products have attracted substantial attention and the first quarter has begun to show the increase we expect to see because of these new items."
The Company's Operating Expenses increased from $303,696 at September 30, 1999 to $318,397 for September 30, 2000, an increase of $14,701, or 4.8 percent. The resulting Operating Profit (Loss) for September 30, 2000 was $(19,605) or $(0.00) per share compared to $(77,536) or $(0.01) a year earlier.
The Net Profit (Loss), after amortization of Deferred Development Costs and asset Depreciation, ended at $(79,952.25) or $(0.01) per share for the First Quarter, ended September 30, 2000, compared with a Net Profit (Loss) of $(138,127) or $(0.02) per share one year ago.
CON-SPACE manufactures a variety of voice
communication equipment for people who work in confined spaces,
hazardous areas or noisy environments. Its products consist of
both Hardline and Two-way Radio Accessory equipment, and are used
by militaries, government agencies, municipalities, fire departments,
police units, rescue teams, and general industry throughout the
world. The company also has a growing number of customers (OEM
Customers) that have CON-SPACE products built and private labeled
for specifically for them. This expanding OEM business is part
of the company's long term growth strategy.
For more information, please call Jim Swanson, Investor Relations, CON-SPACE COMMUNICATIONS LTD., (604) 244-9323, (800) 755-2528 in the U.S., or by e-mail [email protected]. "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.
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