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UNICAN’S SALES EBB SLIGHTLY, BUT NET EARNINGS SIGNIFICANTLY OUTSTRIP PREVIOUS FISCAL YEAR’S PACE

MONTREAL




Unican Security Systems Ltd. has announced sales were down nearly 2 percent in the second fiscal 1999 quarter, ended Dec. 31, to $120.5 million from $122.5 million in 1998. However, according to the company, if the impact of currency fluctuations is excluded, sales increased by nearly 7 percent. Net earnings for the three months ended Dec. 31 were $8.8 million compared to $3 million for the same period in 1998. Overall, Unican’s sales and net earnings are up. For the six-month period ended Dec. 31, sales were $231.2 million compared to $228.7 million for the same time frame in the previous fiscal year. In addition, net earnings for the six-month period ended Dec. 31, 1999 were $15.8 million compared to $9.2 million in 1998. Unican is a global supplier of access control products for both the hospitality and commercial sectors, as well as mechanical and electronic security products for the safe and vault industry.


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