H. Paulin & Co., Limited Financial Results for Period Ending September 30, 2011

TORONTO, Nov. 10, 2011 /CNW/ - At the H. PAULIN & CO., LIMITED Board of Directors meeting held November 10, 2011, the following financial results for the third quarter ended September 30, 2011 were released.  Shown are 2010 comparisons, which reflect the IFRS adjustments.

THIRD QUARTER ENDED SEPTEMBER 30TH

    2011   2010
         
Sales $ 34,767,000 $ 34,029,000
Income Before Taxes $ 1,190,000 $ 875,000
Net Income $ 793,000 $ 524,000
Basic Earnings per share $ 0.24 $ 0.16
Diluted Earnings per share $ 0.24 $ 0.16

                                 

The following results are for the nine months ended September 30, 2011.  Shown are 2010 comparisons, which reflect the IFRS adjustments.

NINE MONTHS ENDED SEPTEMBER 30th

    2011   2010
         
Sales $ 108,696,000 $ 103,377,000
Income Before Taxes $ 4,880,000 $ 4,433,000
Net Income $ 3,414,000 $ 2,986,000
Basic Earnings per share $ 1.04 $ 0.91
Diluted Earnings per share $ 1.03 $ 0.91

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 unaudited 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 unaudited financial statements as at and for the three and nine months ended September 30, 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 

 

SOURCE H. Paulin

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H. Paulin & Co. Limited

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