Canada“s Multi-Glass International Inc., a leading fabricator and distributor of industrial and commercial construction products, has announced its financial results for the quarter ended 30 Septembe…
Canada“s Multi-Glass International Inc., a leading fabricator and distributor of industrial and commercial construction products, has announced its financial results for the quarter ended 30 September, 1999. Sales for the quarter ended 30 September 1999 were US$ 6.2 million compared to US$ 4.7 million for the same period last year, an increase of 32%. Cash flow from operations after changes in non-cash working capital balances relating to operations, amounted to US$ 221,750 compared to US$ 90,927 and net income for the period was US$ 80,052 compared to US$ 127,727. Sales for the nine month period ended 30 September, 1999 were US$ 13.2 million compared to US$ 10.7 million for the same period last year, an increase of 23%. Cash flow from operations after changes in non-cash working capital balances relating to operations, amounted to US$ 158,980 compared to negative cash flow of US$ 81,882 last year and net income for the period was US$ 181,071 compared to US$ 216,682. These results reflect seven months of operations by Multi-Glass Insulation Ltd and nine months of operations for Pheasantback Resources Inc. The balance sheet as of 30 September 1999 showed working capital of US$ 1.8 million compared to US$ 1.3 million last year and shareholders“ equity rose to US$ 1.5 million from US$ 0.8 million. Multi-Glass International Inc. is a fabricator and distributor of industrial and commercial construction products located in Etobicoke, Ontario.