Editions   North America | Europe | Magazine

WhatTheyThink

INVESPRINT CORPORATION RESULTS FOR THE YEAR ENDED APRIL 30, 2000

Press release from the issuing company

September 11, 2000 (Toronto, Ontario)  Invesprint Corporation of Toronto today reported financial results for the year ended April 30, 2000 and the first quarter ended July 31, 2000. Sales for the year April 30, 2000 were $111.3 million compared to $99.4 million last year, an increase of 12%.  The net loss from continuing operations was $1.3 million ($0.25 per share basic) compared to net earnings from continuing operations of $3.7 million ($0.69 per share basic) in the prior year, which included the gain on the sale of an investment of $2.9 million ($0.54 per share basic). Fiscal 2000 results include pre-operating expenses of $901,000 for Jonergin Pacific which commenced operations on February 1, 2000.  Subsequent to the year-end, Invesprint completed the sale of its shareholding in ExtendMedia for a pretax gain of $7.3 million.  As previously announced, Invesprint also completed the sale of its interest in New Jersey based Beckett Corporation resulting in a further pretax gain of $4.3 million.  Substantially all of the Beckett losses recorded in prior periods were recovered on the sale.  These gains are included in the results for the first quarter of fiscal 2001 ended July 31, 2000.  Also, in the first quarter, the carrying value of long-term investments was written down by $1.6 million.

WhatTheyThink is the official show daily media partner of drupa 2024. More info about drupa programs