1st Quarter Results
Toronto, May 10, 2007
Automodular Corporation ("Automodular") reports net earnings of $1.5 million or $0.07 per share for the three
months ended March 31, 2007 compared to earnings of $0.6 million or $0.03 per share in the same period in 2006.
The improved operating results are a result of Q4 2006 program launches in Oshawa and Oakville reaching
commercial production levels.
The first quarter results are summarized below:
| |
|
2007 |
|
2006 |
| Sales |
|
$ 27,721 |
|
$ 17,890 |
| Net earnings |
|
$ 1,477 |
|
$ 577 |
| Earnings per share |
|
$ 0.07 |
|
$ 0.03 |
| Shares outstanding |
|
22,049 |
|
22,049 |
The outlook for 2007 remains positive as Automodular continues to benefit from the investments made in Oshawa and Oakville in 2005 and 2006.
Automodular is a supplier of sub-assembly, sequencing, transportation and logistics services to six OEM plants in Ontario, Michigan and Ohio. The Company has six operating facilities and employs over 900 people.
For further information, contact:
Chris Nutt
Vice President, Finance
Automodular Corporation
(905) 665 0060 x 126
c.nutt@automodular.com
This press release contains forward-looking statements that involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are market and general economic conditions and the risk factors detailed from time to time in the Company's periodic reports filed with the Canadian securities regulatory authorities and on SEDAR at www.sedar.com. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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