Buhler Industries Inc. reports 3rd quarter earnings
Winnipeg, Manitoba
July 17, 2003
| 3 months to June 30, 2003 | Previous year | |
| Revenue Net profit Net profit/share |
$53,250,000 $3,782,000 0.16 |
$70,976,000 $5,059,000 0.22 |
| 9 months to June 30, 2003 | Previous year | |
| Revenue Net profit Net profit/share |
$140,706,000 $9,103,000 0.40 |
$194,275,000 $11,840,000 0.51 |
Revenue Returns to Normal
As forecast, Q3 revenue returned to a more normal level of $53.3 million compared with $71.0 million last year. Year to date, the Company has increased its’ dealer direct sales by 50%. As anticipated, this gain has not fully offset the loss of revenue resulting from the wind-down of the OEM tractor supply contract with CNH Global.
Net Earnings Return to Normal
Nine-month earnings returned to a more normal level of $9.1 million or $0.40 per share compared to $0.51 per share last year. The number of shares outstanding is 23.0 million.
Looking Forward
Management expects that Q4 earnings will exceed last year’s. We are forecasting annual 2003 earnings of $0.50 per share compared with $0.58 last year. Our core products are maintaining steady sales increases in spite of the continuing sluggish farm economy.
Contact
Craig Engel - President
Phone: (204) 228-6206
E-mail: cengel@buhler.com
Click here for complete financial statement
Trading symbol: BUI