WINNIPEG, MB, Aug. 12,
2022 /CNW/ - (TSX: BUI)
Sales
Revenue for the quarter was $57.8,
down $21.4 from the comparable
quarter in the prior year. Revenue for the first six months of 2022
was $113.0 million, down $30.7 compared to the six months ending
June 30, 2021. The Company's decrease
in sales levels is the result of supply chain issues experienced
during the quarter and not a result from the lack of demand as it
remains very high.
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2nd quarter
ending
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6 months
ending
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June 30,
2022
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Year Ago
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June 30,
2022
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Year Ago
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Revenue
(millions)
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$57.8
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$79.2
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Revenues
(millions)
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$113.0
|
$143.7
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|
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Net income
(millions)
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$1.1
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$3.8
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Net income
(millions)
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$1.4
|
$4.2
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Net
income/share
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$0.04
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|
$0.15
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Net
income/share
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$0.06
|
$0.17
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Shares issued
(millions)
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25.0
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25.0
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Shares Issued
(millions)
|
25.0
|
25.0
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Net Income for the
Quarter
Net income for the second quarter was $1.1, compared to net income of $3.8 for the same period in 2021. For the six
months ending June 30, 2022, the net
income was $1.4, compared to the net
income of $4.2 for the similar period
in 2021.
Looking Forward
Sales are expected to grow as the Company resolves supply chain
issues, which will also reduce Inventory. The sales backlog
remains very high. In the past year, the Company restructured
its manufacturing capacity and made changes to reduce the overall
cost of operations. The restructuring coupled with improved
shipments will increase the profitability of the Company.
Complete financial statement:
https://www.buhlerindustries.com/pages/investors.php
Trading symbol: BUI
SOURCE Buhler Industries Inc.