www.supplyht.com/articles/93885-this-n-that-velan
This 'N That…Velan
August 1, 2009
Velan reported strong financial results for the first quarter
ended May 31, 2009, as the company benefited because the U.S. dollar was on
average 20.7% stronger than the Canadian dollar compared to last year. Net
earnings for the quarter were $14.3 million, and earnings per share were 64 cents.
Sales for the quarter were $120.4 million, 13.6% less than the previous year
but 6.7% higher after adjusting for the sales of the Italian joint venture in
last year’s figures.
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