October 23, 1996
NEWS RELEASE NO. 96-023
Richmond, B. C. -- Mr. James L. Swanson, Chairman of CON-SPACE COMMUNICATIONS LTD. (VSE:CCB), released today the sales and earning results for the company's first quarter of fiscal 1996/7.
"For the quarter ended September 30 1996, CON-SPACE sales continued their growth to $332,760, that is 117.4 percent of a year earlier, resulting in an operational profit of just over $48,000 or $0.01 per share," said Swanson. He contributed the continued growth to the developing awareness of industry to provide their employees with quality products that allow them to complete their job functions quickly and safely.
CON-SPACE is the world leader in the development and marketing of specialized communication equipment used by industry, municipalities, rescue teams and the military when personnel operate in dangerous environments or hazardous atmospheres such as in confined space locations.
This unique company continues to expand its new markets within North America and in to other countries around the world. "We intend CON-SPACE to be a household name worldwide," said Swanson.
Sales for the first quarter climbed to $332,760 compared to $283,336 for the same quarter last year, an increase of 17.4%. Operating expenses were reduced to $127,615 from $151,374 a year earlier by applying continued tight financial controls on the expenditures. The resulting operating profit ended the quarter at $48,278 compared to a loss of $24,289 a year earlier which gives a net operating profit per share of $0.01 this year compared to ($0.00) last year. After the inclusion of amortization for the deferred development costs, the company's net loss decreased to $14,412 or ($0.00) per share from $77,809 or ($0.01) a year earlier.
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