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April 22, 1996
NEWS RELEASE NO. 96-011Richmond, B. C. -- Mr. James L. Swanson, Chairman of CON-SPACE COMMUNICATIONS LTD., announced today the results of the 3rd Quarter ended March 31, 1996.
"CON-SPACE turned an operating profit of $46,356 or $0.007 per share during the third quarter, giving a net loss of $7,406 or $0.001 per share. This has improved our year-to-date results and maintains our expecation of a profitabale year end," said Swanson. "With the activity in the market increasing almost daily we anticipate a strong year end."
Sales year-to-date for March 31, 1996 were $830,993 compared to $649,389 a year earlier, an increase of 28%. The resulting operating loss declined from $75,496 (-$0.011 per share) last year to $41,868 (-$0.006 per share) this year. Including depreciation of deferred development costs the net loss also declined from $203,164 last year to $201,670 this year; both a $0.03 loss.
The 3rd Quarter sales remained nearly constant year to year with last year's 3rd Quarter at $314,860 and this year at $307,086 but the operating profit increased to $46,356 ($0.007 per share) this year compared to $20,168 ($0.003 per share) a year earlier. The net loss for the 3rd Quarter decreased from $25,099 ($0.004 per share) last year to $7,406 ($0.001) this year.
CON-SPACE is now entering the fourth quarter of its fourth year of operation. During that time the Company has designed, built, and marketed specialized communication and alarm equipment to numerous companies, municipalities, airlines, fire departments and the military. Its products are sold throughout Canada, the United States, Great Britain, New Zealand, Australia and Hong Kong. CON-SPACE is the world leader in Confined Space communication equipment.
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