TSX Symbol: CH
TORONTO, Oct. 30 /CNW/ - Century II Holdings Inc. today announced its
consolidated financial results for the third quarter ended September 30, 2007.
The Company's operations principally reflect its investment in Information
Communication Services (ICS) Inc. (operating as ICS Courier).
The Company reported net earnings in the third quarter of 2007 of
$2.4 million ($0.21 per share) compared to $1.3 million ($0.11 per share) for
the same period last year. Earnings before income tax expense of $3.6 million
represents an increase of $1.6 million in pre-tax earnings compared to the
same period last year. Earnings before income tax expense for the nine months
was $10.8 million compared to $5.0 million for the same period last year.
Revenue for the third quarter of 2007 was $24.1 million compared with
$22.2 million in 2006, an increase of 8.9% over the prior year's quarter.
Revenue for the nine months was $73.3 million (an increase of 7.5%) compared
to $68.2 million for the same period last year.
Commenting on the financial performance for the third quarter of 2007,
Mr. Geoff Davies, President and Chief Executive Officer of the Company, said
that "The financial results for this quarter reflect the ICS teams continued
success in improvement in revenues, customer service and cost controls".
About Century II Holdings Inc. (TSX Symbol: CH)
Century II Holdings Inc. is a publicly listed holding company whose
wholly-owned subsidiary, ICS Courier, operates a structured route courier
business servicing in excess of 35,000 accounts largely in the insurance,
financial, optical, dental and hearing appliance business sectors across
Certain statements in this press release constitute forward-looking
statements. Such forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance and achievements of the Company to be materially different from
any future results, performance or achievements expressed or implied by such
forward-looking statements. Such factors include, among others, competition
and technological changes. These factors and other risks and uncertainties are
discussed in the Company's Annual Report for the year ended December 31, 2006
and in the subsequent reports filed by the Company with the Ontario Securities
For further information:
For further information: Michael J. O'Neill, Chief Financial Officer,
(416) 207-5307, firstname.lastname@example.org