H. Paulin & Co., Limited - Financial Results for Period Ended December 31, 2011
TORONTO, March 21, 2012 /CNW/ - At the H. PAULIN & CO., LIMITED Board of Directors meeting held March 21, 2012, the following financial results for the quarter ended December 31, 2011 were released. Shown are 2010 comparisons, which reflect the IFRS adjustments.
| FOURTH QUARTER ENDED DECEMBER 31ST | ||||
| 2011 | 2010 | |||
| Sales | $ | 30,647,000 | $ | 30,465,000 |
| Income Before Taxes | $ | 569,000 | $ | 71,000 |
| Net Income | $ | 486,000 | $ | 185,000 |
| Basic Earnings per share | $ | 0.15 | $ | 0.06 |
| Diluted Earnings per share | $ | 0.15 | $ | 0.06 |
The following results are for the year ended December 31, 2011. Shown are 2010 comparisons, which reflect the IFRS adjustments.
| TWELVE MONTHS ENDED DECEMBER 31ST | ||||
| 2011 | 2010 | |||
| Sales | $ | 139,343,000 | $ | 133,842,000 |
| Income Before Taxes | $ | 5,449,000 | $ | 4,504,000 |
| Net Income | $ | 3,900,000 | $ | 3,171,000 |
| Basic Earnings per share | $ | 1.19 | $ | 0.97 |
| Diluted Earnings per share | $ | 1.18 | $ | 0.97 |
The Company's results are now being prepared in accordance with International Financial Reporting Standards ("IFRS"). Accounting policies have changed and the presentation, financial statement captions and terminology used in the accompanying audited financial statements differ from that used in all previously issued financial statements and quarterly and annual reports prior to 2011. Further details on the conversion to IFRS are provided in Management's Discussion and Analysis and in the notes to the audited financial statements as at and for the year ended December 31, 2011.
The Board of Directors did not declare a dividend.
H. Paulin & Co., Limited is a leading Canadian manufacturer and merchandiser of bolts, nuts, screws and fluid system components for the retail hardware, industrial and automotive markets.
Additional information about H. Paulin & Co., Limited, including its Annual Information Form (AIF) and annual and interim consolidated financial statements, is available on the System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com.
H. PAULIN & CO., LIMITED
"Murray Mateyk"
_____________________
Murray Mateyk, Chief Financial Officer
55 Milne Avenue
Toronto, ON M1L 4N3 Canada
Telephone (416) 694-3351 Fax (416) 694-2916
Toll Free 1-800-268-4000
Website www.hpaulin.com
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