Dover Industries Limited

Dover Industries Limited

May 15, 2006 12:26 ET

Dover Industries Limited: Financial Results-Three Month Period Ended March 31, 2006

BURLINGTON, ONTARIO--(CCNMatthews - May 15, 2006) - Dover Industries Limited (TSX:DVI) announced that income after tax from the continuing operations for the three months ended March 31, 2006 was $1,518,000 ($0.44 per basic share and $0.43 per diluted share), compared to $831,000 ($0.24 per basic and diluted share) for the same period last year. Sales for the quarter were $37,979,000 an increase of 9.5% compared to $34,670,000 in 2005.

Net income for the continuing and discontinued operations for the first quarter ended March 31, 2006 was $1,408,000 ($4,760,000 for the same period in 2005). The first quarter of 2005 reflects the sale of the former Packaging operation. After provisions for income taxes net income per basic share is $0.41 and diluted share $0.40 compared to $1.39 and $1.37 respectively for 2005.

Dover Industries Limited is a food and paper products company with sales throughout Canada and the U.S.A. and production facilities in Ontario and Nova Scotia.

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Contact Information

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