WINNIPEG, MB, Aug. 14,
2024 /CNW/ - (TSX: BUI)
Sales
Revenue for the quarter was up 15.9% coming in at $78.3 million compared with $67.6 million in the prior year second quarter.
Revenue for the first six months of 2024 was $149.4 up $25.8
from 2023. The Company has been successful in improving its supply
chain issues and, continues to enjoy strong demand for its
products.
|
2nd quarter ending June
30,2024
|
|
|
6 months ending June
30,2024
|
|
|
Year
Ago
|
|
|
Year
Ago
|
|
Revenue
(millions)
|
$78.3
|
$67.6
|
|
Revenue
(millions)
|
$149.4
|
$123.6
|
|
Net income
(millions)
|
$7.2
|
$16.1
|
|
Net income
(millions)
|
$5.1
|
$20.2
|
|
Net
income/share
|
$0.29
|
$0.64
|
|
Net
income/share
|
$0.20
|
$0.81
|
|
Shares issued
(millions)
|
25.0
|
25.0
|
|
Shares issued
(millions)
|
25.0
|
25.0
|
Net Income for the Quarter
Net income for the second quarter was $7.2, compared to net income of $16.1 for the same period in 2023. For the year
to date, net income was $5.1,
compared to net income of $20.2 for
the similar period in 2023.
Looking Forward
Sales, for the remainder of the year, are projected to be higher
in 2024 as the Company continues to improve problems associated
with supply chain issues. The Company's majority shares were
acquired by ASKO Sinai, a wholly-owned subsidiary of ASKO Holding,
on December 28, 2023 and continues to
receive full support from ASKO Sinai to achieve its sales growth
and return to profitability. Margins are projected to improve in
2024 over 2023 as a result of operating efficiencies stemming from
increased shipments and cost reductions taken during the year.
Complete financial
statement: http://www.buhlerindustries.com/pages/investors.php
Trading symbol: BUI
Forward-looking statements
Certain statements made above contain forward-looking statements
including, but not limited to, statements concerning possible or
assumed future results of operations of the Company.
Forward-looking statements represent the Company's intentions,
plans, expectations and beliefs, and are not guarantees of future
performance. Such forward-looking statements represent Buhler
Industries current views based on information as at the date of
this report. They involve risks, uncertainties and assumptions and
the Company's actual results could differ, which in some cases may
be material, from those anticipated in these forward-looking
statements. Factors that could cause results to differ from those
expected include, but are not limited to: the terms, availability
and costs of acquiring raw materials and the ability to pass on
price increases to customers; ability to negotiate contracts with
new customers or renew existing customer contracts with less
favorable terms; timely response to changes in customer product
needs and market acceptance of our products; the potential loss of
business or increased costs due to customer or vendor
consolidation; competitive pressures, including new product
development; industry capacity, and changes in competitors'
pricing; ability to maintain or increase productivity levels;
ability to contain or reduce costs; foreign currency exchange rate
fluctuations; changes in governmental regulations, including
environmental, health and safety; changes in Canadian and foreign
income tax rates, income tax laws and regulations. Unless otherwise
required by applicable securities law, Buhler Industries disclaims
any intention or obligation to publicly update or revise this
information, whether as a result of new information, future events
or otherwise. The Company cautions investors not to place undue
reliance upon forward-looking statements
SOURCE Buhler Industries Inc.