Broadview Press Inc.
TSX VENTURE : BDP

Broadview Press Inc.

April 05, 2006 10:00 ET

Broadview Rebounds in 2005 with Net Income of $97,850

CALGARY, ALBERTA--(CCNMatthews - April 5, 2006) -

Broadview Press Inc. Posts Annual Results at December 31, 2005

(All figures are in Canadian dollars unless otherwise stated.)

Broadview Press Inc. (TSX VENTURE:BDP) is pleased to report net income in 2005 of $97,850 (2004: net loss of $137,544), marking its ninth profit in the last ten years. The profit in 2005 represents earnings per share (basic and diluted) of $0.009 (2004: loss per share of $0.013).

The strong profit in 2005 is attributable to both increased sales revenue and decreased operating expenses. Net sales revenue for the year rose to $3,633,471 (2004: $3,324,604), an increase of 9.3 per cent. Operating expenses for the year fell to $2,091,966 (2004: $2,182,312), a decrease of 4.1 per cent.

While Broadview's net income in 2005 was ahead of 2004 at the end of the first, second, and third quarters, its year-end results were especially bolstered by a strong fourth quarter. Net income in the quarter was $239,291 (Q4 2004: net loss of $48,733), for basic and diluted earnings per share of $0.22 (Q4 2004: basic and diluted loss per share of $0.004). This improvement was largely due to increased sales revenue, as Broadview in the fourth quarter posted net sales of $1,306,166 (Q4 2004: $1,032,926).

Broadview's year-end financial statements, as well as its management discussion and analysis of these results, can be read by visiting www.sedar.com. Alternately, please contact Craig Lawson (see below) to have these documents sent to you directly.

The Imminent Publication of The Broadview Anthology of British Literature

Readers who have been following Broadview Press will know that the company has been working since 2001 to research and develop the comprehensive, six-volume Broadview Anthology of British Literature, which will be by some distance the company's most ambitious project to date, and which the company believes will generate significant revenue on an ongoing basis.

Broadview is very pleased to report that the first three volumes of this anthology are currently being printed, and will be delivered to the company's warehouse in April. The final three volumes will be going to press in the next few weeks, and the company should take delivery of those volumes in the late spring.

Broadview is an internationally-oriented, Canadian-based publisher of books aimed at the university and college textbook market.

Forward-Looking Statements:

This document contains forward-looking statements involving Broadview's expectations about future financial results and other matters. These statements reflect management's current forecast of certain aspects of Broadview's future business. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from historical results or current expectations. The words "plan," "expect," "believe," "intent," "anticipate," "forecast," "target," "estimate," "should," "will" and similar expressions identify forward-looking statements. Risk factors include shifts in consumer demand, product schedules, product mix, competitive products and pricing, technological shifts, foreign exchange changes and other variables. Readers are referred to Broadview's other public documents for further discussions of risks and uncertainties. The factors underlying forecasts are dynamic and subject to change. As a result, forecasts speak only as of the date they are given and do not necessarily reflect Broadview's outlook at any other point in time.

Closing Share Price: $0.13 (at December 31, 2005)

Shares issued: 11,081,107 (at December 31, 2005)

Contact Information

  • Broadview Press Inc.
    Michael Harrison
    President and CEO
    (519) 837-0915 (Guelph, ON)
    or
    Broadview Press Inc.
    Craig Lawson
    Corporate Affairs Coordinator
    (403) 232-6863 (Calgary, AB)