May 30, 2001
NEWS RELEASE NO. 01-011
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 results for the Company's third quarter for fiscal 2001.
Sales for the third quarter ended at $643,363 or 74.6% of the $915,463 for the 3rd quarter one year ago and annual sales todate ended at $1,978,635 or 92.7% of the $2,134,491 one year ago. Cost of goods sold ended at $414,613 or 91.3% of the $454,828 for the 3rd quarter one year ago while annual cost of goods sold todate ended at $1,068,355 or 99.3% of the $1,075,865 in the previous year.
Operating expenses finished at $432,627 or 137.2% of the $315,287 for the 3rd quarter one year ago and annual operating expenses todate finished at $1,080,919 or 108.1% of the $999,517 of operating expenses one year ago. It should be noted that R & D expenses are no longer being capitalized.
Operating profit (loss) closed at ($120,532) or ($0.01) per share of the $145,692 or $0.02 per share for last year's 3rd quarter giving an annual operating profit (loss) todate of ($109,845) or ($0.03) per share of the $59,172 or $.01 per share last year. After depreciation and amortization, quarterly net profit (loss) closed at ($180,796) or ($0.02) per share compared to the $85,102 or $0.01 per share one year ago. This resulted in an annual net profit (loss) todate of ($290,804) or ($0.04) per share compared to the ($122,600) or ($0.02) per share one year ago.
CON-SPACE has now listed its Hardwired product
lines and most brochures on its web site www.con-space.com. Look
for the heading "On-line
Catalog" on their Home Page for the Catalog section and
the heading "Rep.
/ Dist." for their brochures.
CON-SPACE is recognized worldwide as the leading manufacturer of special voice communication equipment for people who work in Confined Spaces and other hazardous areas. Equipment made by CON-SPACE is presently used in many countries throughout the world by government agencies, municipalities, fire departments, law enforcement, rescue teams and general industry. Their equipment is also used by military organizations worldwide.
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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