AQM Announces Q3 Sales and Profits
22 September 2000
AQM Announces Q3 Sales and Profits
BRAMPTON, Ontario--Sept. 22, 2000--AQM Automotive Corporation (OTCBB:AQM)(CDNX:AQV) today announced its consolidated financial and operating results for the third quarter of 2000 (June 1, 2000 to August 31, 2000) and for the nine months ended August 31, 2000.Sales volumes for the 3rd quarter increased by 24% or $819,959 over the 3rd quarter of 1999, to $4,288,433. This increase was caused by the continuing success of the Company's marketing efforts. Sales for the nine months ended August 31, 2000 were $12,417,569 up 21% from the previous year.
Earnings before interest, taxes, depreciation and amortization (EBITDA), for the 3rd quarter of 2000 were $342,864 (3.5 cents per share), up 99% from the $172,410 reported for the 3rd quarter of 1999. For the nine months ended August 31, 2000, EBITDA was up 51% to $857,456, or 8.3 cents per share.
Net income for the 3rd quarter of 2000 was $155,429 (1.5 cents per share), up 104% from the previous year.. For the nine months ended Aug 31, 2000, net income was $372,579 (3.6 cents per share), up 50% from the same period in 1999.
3rd Quarter Ended 9 Months Ended
Aug 31st '00 Aug 31st '99 Aug 31st '00 Aug 31st '99
---------------------------------------------------------------
Sales 4,288,433 3,468,474 12,417,569 10,255,672
Gross Profit 1,043,242 805,385 2,915,773 2,593,090
Gross Profit
Margin 24.3% 23.2% 23.5% 25.3%
EBITDA 342,864 172,410 857,456 597,021
Net Income 155,429 75,832 372,579 249,789
EBITDA per
share 3.3 cents 1.6 cents 8.3 cents 5.5 cents
Net Income
Per Share 1.5 cents 0.7 cents 3.6 cents 2.3 cents