ZCL Composites Inc. reports net earnings of $1,534,000 for the year ended March 31, 2001, up significantly from a net loss of $1,120,000 for the year ended March 31, 2000. After adjusting for the costs of the convertible subordinated debenture, basic and diluted earnings per share was $0.11 before goodwill charges and $0.09 after goodwill charges for 2001, as compared to a net loss per share of $0.17 before goodwill charges and $0.19 after goodwill charges for 2000.
Revenue for the year increased by over 14% to $29.3 million from $25.7 million in 2000. This increase reflects the continuing strong markets in both the upstream and downstream sectors of the Canadian petroleum industry, diversification into new market sectors, as well as increasing revenue from new products introduced over the past few years.
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posted by srikanth...july10
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