In c3015 transmitted today at 08:39e, an error occurred in the table.
Under the "Nine months ended on September 30th 2006" column, the first
number in the first row should have read "$ 626,653" instead of
"$ 686,653". Corrected copy follows.
BMTC Group Inc. announces it's financial results for the third quarter
ended September 30th, 2006
MONTREAL, Nov. 10 /CNW Telbec/ - BMTC Group Inc. announced that, for the
nine-month period ended on September 30th, 2006, that its revenues totaled
$626.7 million, representing an increase of $20.6 million over the
$606.1 million for the corresponding 2005 period. The Company's net income,
for the period, totaled $29,094,000, or $0.85 per share, compared with
$33,293,000, or $0.94 per share, for the corresponding 2005 period. A summary
of the consolidated income statement of BMTC Group Inc. for the third quarter
ended on September 30th, 2005 is set forth below:
<<
Nine months Three months
------------ -------------
ended on September 30th ended on September 30th
------------------------ ------------------------
2006 2005 2006 2005
---------- ---------- ---------- ----------
(in thousands of dollars, except amounts per share)
Revenues $ 626,653 $ 606,120 $ 220,687 $ 215,828
Income before
income taxes 42,703 47,662 24,433 23,459
Income taxes 13,609 14,369 7,767 7,138
---------- ---------- ---------- ----------
NET INCOME $ 29,094 $ 33,293 $ 16,666 $ 16,321
---------- ---------- ---------- ----------
NET EARNINGS
PER SHARE $ 0.85 $ 0.94 $ 0.49 $ 0.46
---------- ---------- ---------- ----------
---------- ---------- ---------- ----------
FULLY DILUTED
EARNINGS PER SHARE $ 0.82 $ 0.92 $ 0.47 $ 0.46
---------- ---------- ---------- ----------
---------- ---------- ---------- ----------
>>
Furthermore, BMTC Group Inc. announced the declaration of a semi-annual
dividend of $0.12 per share has been declared to holders of Class A
Subordinate voting shares and Class B Multiple voting shares of record as of
the close of business on December 21st, 2006 which will be payable on
January 4th, 2007.
Finally, BMTC Group Inc. has indicated that in the course of its
redemption programs implemented in September 2005 and renewed in September
2006, and the conversion of Class B Multiple Voting Shares, the Company has
redeemed a total of 1,162,340 Class A Subordinate Voting Shares with respect
to which the average redemption price was $16.46 per share, and
108,760 Class B Multiple Voting Shares with respect to which the average
redemption price was $16.80 per share, while 284,250 Class B Multiple Voting
Shares were converted into as many Class A Subordinate Voting Shares. As of
November 3rd, 2006, 20,743,847 Class A Subordinate voting shares and
12,414,553 Class B Multiple voting shares were outstanding.
BMTC Group Inc., which Class A Subordinate Voting Shares are listed on
the Toronto Stock Exchange, is an important retailer of furniture, electronic
goods and household appliances in the Montreal, Quebec City, Laval, Ste-Foy,
Sherbrooke, Trois-RiviGeres, Rimouski, St-Georges, RiviGere-du-Loup, Chicoutimi,
and Gatineau regions through its affiliates Brault & Martineau Inc. and
Ameublements Tanguay.
(s) Yves Des Groseillers
------------------------
Published Nov 10 2006
3 min read