Surpassing the $200 million mark, the company’s sales increased from $90,500,000 in 1993 to $210,485,000 in 1994, for an impressive increase of 132%.

This closing, combined with slowdowns in the transportation of finished goods (OSB-board) from Saint-Michel-des-Saints and Chambord, are reflected in a decrease in sales of approximately $8 million, resulting in a drop in net profits of $0.05 and $0.20 per share, respectively, in the last quarter of 1994. Deliveries are now back on track and are going well. The sawmill is currently in the midst of a breaking-in period and will be operational as of March.

As announced in October, FOREX ST-MICHEL INC.,’s sawmill division, closed its mill in November and December 1994. During that period, major renovations were made to convert the existing sawmill into a stud mill for kiln-dried wood.

As at December 31, 1994, net income reached $33,043,000 compared to $14,167,000 for the previous year. The company declared net earnings per share of $4.37 in 1994, compared to $1.86 per share for the same period in 1993.

posted by Administrator at 3:37 am & filed under Euros |