For the first quarter ended December 31, 1999, Canada“s Boralex Inc. posted sales of US$ 19.6 million, compared with US$ 12.5 million for the corresponding quarter of 1998.
Net earnings for the qua…
For the first quarter ended December 31, 1999, Canada“s Boralex Inc. posted sales of US$ 19.6 million, compared with US$ 12.5 million for the corresponding quarter of 1998. Net earnings for the quarter increased to US$ 2 million, or US$ 0.10 per share, compared with US$ 1.1 million, or US$ 0.05 per share, for the corresponding quarter last year. This is the fifth consecutive quarter of strong growth in earnings for the corporation, stemming from an increase in revenues and operating income (earnings before financial expenses, amortization and non-controlling interests). In fact, the latter increased by 61%, reaching US$ 8.2 million, or US$ 0.42 per share during the first quarter, compared with US$ 5.1 million, or US$ 0.26 per share for the corresponding period of 1998. Meanwhile, the company said it named Jacques Gauthier president and chief operating officer. In a news release, the company said Gauthier joined the company in 1995 as executive vice-president. Bernard Lemaire will remain chairman and chief executive.