Dover Industries Limited
TSX : DVI

Dover Industries Limited

November 06, 2007 13:33 ET

Dover Industries Limited (DVI): Financial Results-Nine Month Period Ended September 30, 2007

BURLINGTON, ONTARIO--(Marketwire - Nov. 6, 2007) - Dover Industries Limited (TSX:DVI) announced a net loss of ($20,000) from the continuing operations for the third quarter ended September 30, 2007 compared to $1,567,000 net income for the same period in 2006. Net income per basic share was $0.00 compared with $0.23 in 2006. Sales for the quarter from the continuing operations were $59,400,000 compared to $42,971,000 in 2006.

Net income for the continuing and discontinued operations for the third quarter ended September 30, 2007 was $5,001,000 ($1,506,000 for the same period in 2006). Net income per basic share is $0.73 compared to $0.22 for the third quarter of 2006.

Net income from the continuing operations for the nine months ended September 30, 2007 was $2,946,000 ($0.43 per basic share), compared to $4,753,000 ($0.69 per basic share) last year.

Net income for the continuing and discontinued operations for the nine months ended September, 2007 was $7,890,000 ($4,556,000 for the same period in 2006). Net income per basic share is $1.15 compared to $0.66 for the first nine months of 2006.

A dividend of ten (10) cents per share on the common shares of the Company was declared for the quarter ended September 30, 2007. The dividend is payable on December 3, 2007, to shareholders registered at the close of business on November 16, 2007. This is the 67th consecutive year in which the Company has paid dividends on the common shares.

Dover Industries Limited operates flour mills in Ontario, Nova Scotia and Saskatchewan, a paper products division and ice cream cone and plastics plant in Ontario with sales across Canada and the USA.

Historical Dover Industries Limited news releases can be viewed on the Company's website (www.dovergrp.com) and/or on the System for Electronic Document Analysis and Retrieval website (www.sedar.com).

Contact Information

  • Dover Industries Limited
    Brian J. Short
    Senior Vice-President & C.F.O.
    (905) 333-1515
    Website: www.dovergrp.com