Hodgins Auctioneers Reports Third Quarter Profitability

MELFORT, SK, Nov. 30, 2011 /CNW/ - Hodgins Auctioneers Inc. (HA-TSX.V) ("Hodgins" or the "Company") is pleased to report filing of its financial statements for the third quarter ending September 30, 2011.

Highlights of the third quarter include:

  • Net year-to-date earnings of $552,712 or 6 cents per share
  • Year-to-date gross sales of $30,457,309 representing an increase in gross sales year over year of 46%
  • Increase in average gross sales per auction from $410,165 to $525,126
  • Increase in working capital of $726,460 from December 31, 2010.

Barrie Jung, President, stated "Our management prepared statements represent a significantly enhanced financial position for the Company.  Earnings of $.06 per share we trust will be welcomed and cheered by our shareholders."

About Hodgins Auctioneers Inc.

Headquartered in Melfort, Saskatchewan for more than fifty years Hodgins Auctioneers Inc. is a provider of professional auction services.  Hodgins is renowned for its experienced auctioneers, award winning promotions, dependable results and commitment to providing the ultimate marketplace for the sale of assets by auction.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Hodgins Auctioneers Inc.

For further information:

Barrie Jung, President & CEO
Hodgins Auctioneers Inc
Phone Toll Free 1 800-667-2075
Fax: 306-752-5702
Email: barrie@hodginsauctioneers.com
Website: www.hodginsauctioneers.com

Profil de l'entreprise

Hodgins Auctioneers Inc.

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