March 13, 2003
News Release 03-007
Trading Symbol TSX: CCB
US SEC Exemption No. 82-3378
RICHMOND, BC - In a joint statement put out today by Mr. Terence A Ibbetson, President and Mr. James L Swanson, Chairman, of CON-SPACE Communications Ltd., they announced that the company is expected to surpass its last year's sales by the end of its third quarter this year.
"The company's performance this year has been phenomenal in both sales and profit growth," said Swanson, "We have set many new records this year and are poised to out-do all of our previous records. The month of March will see the highest recorded monthly sales, giving us the highest quarter ever, plus a new annual sales record. March will see us pass last year's total sales and we still have three more months to go before year end."
Last year the company closed its sales at $3,176,903 and fully expects to be in excess of $3.3 Million by the end of March. The company's year-end is June 30, 2003.
"Our sales have really accelerated this year for a number of reasons," said Ibbetson, " The continued efforts of our sales force in pursuing the growing number of opportunities is a major reason, but product maturity and brand recognition are also key factors. All of our employees have contributed to the success we are now seeing and we expect this growth to continue well into the future."
CON-SPACE's growth rate is currently running at over 50 percent of last year and though no mention was made of expected earnings per share it should exceed the last quarter's earnings of $0.04 per share.
CON-SPACE manufactures and markets a line
of unique communication equipment that allows people across thirty-seven
industries, working in confined spaces and hazardous environments
to maintain unbroken voice communication with outside personnel.
The company also produces accessories for portable two-way radios.
CON-SPACE equipment is now used worldwide and has been credited
with saving the lives of several workers. Militaries, police,
fire departments municipalities, general industry and rescue teams
are all users of this special equipment. The Company also has
a growing list of major companies that it manufactures products
for under private label agreements. The CON-SPACE web site is
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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