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Canam Group publishes its third-quarter financial report
Canam Group has just published the online version of its 2008 third-quarter financial report. The printed version will be available as of November 11, 2008.
Highlights for the three-month and nine-month periods ended September 27, 2008
Consolidated sales
- Three-month period: Sales totaled $231.7M as compared with $238.3M in 2007.
- Nine-month period: Sales totaled $594.1M as compared with $618.6M in 2007.
Gross margin
- Three-month period: The gross margin was 20.9% of sales as compared with 20% of sales in 2007.
- Nine-month period: The gross margin represented 21.3% of sales as compared with 20.6% of sales in 2007.
Net earnings
- Three-month period: Net earnings totaled $15M or $0.31 per share as compared with net earnings of $14.1M or $0.29 per share in 2007.
- Nine-month period: Net earnings totaled $34.7M or $0.71 per share as compared with net earnings of $33.8M or $0.69 per share in 2007.
Common Share Buyback Program
As at October 21, 2008, the Company purchased 2,185,100 common shares at an average price of $6.14 per share for a total of $13.4M.
Backlog of orders
The backlog of orders stood at $340M as at September 27, 2008 as compared with $352M as at June 28, 2008.
Dividends
The board of directors approved a quarterly dividend of $0.04 per common share payable on December 31, 2008 to shareholders of record on December 17, 2008.
The quarterly financial report can be downloaded in PDF format from Canam Group’s web site under Publications (Financial).
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