January 20, 1997
NEWS RELEASE NO. 97-003
Richmond, BC -- Mr. James L. Swanson, Chairman of CON-SPACE COMMUNICATIONS LTD., announced today that the company's sales for the 2nd Quarter ended December 31, 1996 increased 45.2% over the same Quarter a year earlier.
CON-SPACE manufactures specialized communication and alarm equipment for the Military, Government Agencies, Municipalities, General Industry and Rescue Departments and has successfully marketed its products throughout North American for over four years. During this time, CON-SPACE products have been responsible for saving several lives and for improving the efficiency, safety, and lifesaving activities of thousands of people within numerous organizations.
The second quarter sales ended at $348,300 compared to $240,600 for the same quarter in the previous year. The first six months, ending December 31, 1996, showed sales of $681,100, a 30.2% increase over the previous year which was $523,900. The CON-SPACE operational profit increased $163,950 over the previous year loss of $88,220 or ($0.01) per share to $75,720 or $0.01 per share. After amortization of Deferred Development costs the net loss decreased from $195,260 or ($0.03) per share in 1995 to $49,660 or ($0.01) per share this year.
"Our sales continue to grow, not only here in North America but also around the World," said Swanson, adding, "The quality of our products is being recognized more and more throughout industry and we are at the beginning of substantial growth. The International sales are continuing to expand and as just announced we have added Japan to our International distribution network. This will contribute to our increasing growth rate. To assist in financing the new growth we have established with the Bank of Montreal, Innovation and Technology Centre, a credit facility of $700,000. This will allow CON-SPACE to meet its expected commitments."
CON-SPACE is a unique company that is addressing a specific area of the market which heretofore has not been addressed. It is considered the World leader in specialized communication and alarm equipment for operation within confined spaces and hazardous atmospheres.
CON-SPACE, and Safety in Communication are
registered trade marks of CON-SPACE COMMUNICATIONS Ltd.
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