Dover Industries Limited
TSX : DVI

Dover Industries Limited

October 25, 2006 13:39 ET

Dover Industries Limited 'DVI': Financial Results-Nine Month Period Ended September 30, 2006

BURLINGTON, ONTARIO--(CCNMatthews - Oct. 25, 2006) - Dover Industries Limited (TSX:DVI) announced that income after tax from the continuing operations for the nine months ended September 30, 2006 was $4,753,000 ($0.69 per basic share), compared to $3,328,000 ($0.48 per basic share) last year.

Net income for the continuing and discontinued operations for the nine months ended September 30, 2006 was $4,556,000 ($7,628,000 for the same period in 2005). After provisions for income taxes net income per basic share is $0.66 compared to $1.11 for the first nine months of 2005.

Net income from the continuing operations for the third quarter ended September 30, 2006 was $1,567,000, an increase of 18.2% from $1,326,000 for the same period in 2005. Net income per basic share was $0.23 compared with $0.19 in 2005. Sales for the quarter from the continuing operations were $42,971,000 compared to $38,153,000 in 2005, an increase of 12.6%.

Net income for the continuing and discontinued operations for the third quarter ended September 30, 2006 was $1,506,000 ($1,319,000 for the same period in 2005). Net income per basic share is $0.22 compared to $0.19 for the third quarter of 2005.

A dividend of nine (9) cents per share on the common shares of the Company was declared for the quarter ended September 30, 2006. The dividend is payable on December 1, 2006, to shareholders registered at the close of business on November 7, 2006. This is the 66th consecutive year in which the Company has paid dividends on the common shares.

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

All of the 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