For the quarter ended 30 September 1996, Canadian firm Boralex Inc. has announced consolidated net earnings of US$ 1,258,914 (US$ 0.008 per share), compared to US$ 152,899 (US$ 0.001 per share) for th…
For the quarter ended 30 September 1996, Canadian firm Boralex Inc. has announced consolidated net earnings of US$ 1,258,914 (US$ 0.008 per share), compared to US$ 152,899 (US$ 0.001 per share) for the same period in 1995. The quarter net earnings include non-recurring gains of US$ 1,001,614 (US$ 0.006 per share). Thus, net earnings before these gains are US$ 257,300 (US$ 0.002 per share). Consolidated cash flow from operations for the quarter is US$ 549,257 (US$ 0.003 per share), compared to US$ 398,687 (US$ 0.003 per share) for the same period in 1995. Boralex“s consolidated net sales for the last quarter amounted to US$ 3,861,579 compared to US$ 2,679,603 in 1995. As a result of the reverse takeover transaction concluded on 22 December 1995, the audited consolidated results of Boralex Inc., as of 30 September 1996, include the nine months of operations since the date of the transaction and the 1995 comparative figures include the twelve month operations of Cascades Energie (1995) Inc. ended 31 December 1995. For the nine month fiscal year which ended on 30 September 1996, consolidated sales were US$ 12,250,933 and consolidated net earnings were US$ 1,269,807 (US$ 0.008 per share). Net earnings before non-recurring gains were US$ 129,269 (US$ 0.001 per share) and consolidated cash flow from operations amounted to US$ 1,909,482 (US$ 0.011 per share). For the twelve month fiscal year to 31 December 1995, consolidated sales were US$ 12,595,674. Consolidated net earnings were US$ 343,505 (US$ 0.002 per share) and consolidated cash flow from operations amounted to US$ 2,522,498 (US$ 0.018 per share).