UNICAN SECURITY NETS $8 MILLION IN FISCAL 1st-QUARTER EARNINGS
In revealing its financial results for the first fiscal quarter ended Sept. 30, Unican Security Systems Ltd. announces sales of $118 million, compared to $110.7 million for the same period in 1999, a 6.6-percent increase. Earnings before interest, taxes, depreciation and amortization (EBITDA) for the quarter were $22.3 million, or 18.9 percent of sales, compared to $20.8 million, or 18.8 percent of sales for the same period last year. Net earnings were $8 million, compared to $7 million for the same period in 1999, an increase of 14.3 percent. The first quarter’s earnings per share (EPS) amounted to 38 cents, compared to 34 cents for the same period last year, an improvement of 11.8 percent.
Aaron Fish, chairman and CEO, comments, “This was a very satisfying and challenging quarter. We continued to be affected by the weakening of the Euro compared to the Canadian dollar, but are reporting increased profits despite this. I am happy to report that our electronics business in Montreal is continuing to progress. Our key business in the U.S. continues to be flat, however, I am encouraged by the order flow.” Unican Security Systems 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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