Business
Exco Technologies Limited - Second Quarter ended March 31, 2011 and Quarterly Dividend Declared
May 4, 2011 (Canada NewsWire Group) -- Sales increased 35% Profits increased 149% ...
About this update from Exco Technologies Limited
[{"type":"text","content":"\n\n\n May 4, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n\nSales increased 35%\n\n\nProfits increased 149%\n\n\nCash on hand $12.7 million\n\n\nNo bank debt\n\n\n\nTORONTO, May 4 /CNW/ - Exco Technologies Limited (TSX-XTC) today announced results for its second quarter ended March 31, 2011. In\n addition, the Company announced a $0.025 dividend per share which will\n be paid on June 30, 2011 to shareholders of record on June 15, 2011.\n The dividend is an "eligible dividend" in accordance with the Income\n Tax Act of Canada.\n\n\n\n\n\n \n\n\n \n\n\n \n\n\n\n\n \n\n\nThree Months ended\nMarch 31\n\n\nSix Months ended\nMarch 31\n\n\n\n\n \n\n\n($000s, except per share amounts)\n\n\n\n\n \n\n\n2011\n\n\n2010\n\n\n2011\n\n\n2010\n\n\n\n\nSales\n\n\n52,885\n\n\n39,312\n\n\n98,477\n\n\n76,902\n\n\n\n\nNet income\n\n\n5,546\n\n\n2,226\n\n\n8,672\n\n\n4,126\n\n\n\n\nBasic and diluted earnings per share\n\n\n$0.14\n\n\n$0.05\n\n\n$0.21\n\n\n$0.10\n\n\n\n\nCommon shares outstanding\n\n\n40,926,823\n\n\n40,911,323\n\n\n40,926,823\n\n\n40,911,323\n\n\n\n\nConsolidated sales for the second quarter ended March 31, 2011 were\n $52.9 million - an increase of $13.6 million or almost 35% over last\n year. Year-to-date sales were $98.5 million - an increase of $21.6\n million or over 28% compared to last year. Strong underlying demand for\n our products has fuelled sales growth and mitigated the adverse impact\n of a climbing Canadian dollar...