Dover Industries Limited
TSX : DVI

Dover Industries Limited

August 06, 2008 18:13 ET

Dover Industries Limited (DVI): Financial Results-Six Month Period Ended June 30, 2008

BURLINGTON, ONTARIO--(Marketwire - Aug. 6, 2008) - Dover Industries Limited (TSX:DVI) announced that net income from continuing operations for the second quarter ended June 30, 2008 was $1,720,000 ($1,403,000 for the same period in 2007). Net income per basic share was $0.25 compared with $0.20 in 2007.

Sales for the quarter were $85,374,000, an increase of 54.2% compared to $55,362,000 in 2007, primarily related to the increase in wheat prices.

Net and comprehensive income for the second quarter ended June 30, 2008 was $1,720,000 ($1,366,000 in 2007). Earnings per basic and diluted share are $0.25 compared to $0.20 for the second quarter of 2007.

Net and comprehensive income for the six months ended June 30, 2008 was $3,712,000 ($2,889,000 in 2007). Earnings per basic and diluted share are $0.54 compared to $0.42 for the first six months of 2007.

The Directors of Dover Industries Limited declared a dividend of ten (10) cents per share on the common shares of the Company for the quarter ended June 30, 2008. The dividend is payable on September 2, 2008, to shareholders registered at the close of business on August 18, 2008. This is the 68th consecutive year in which the Company has paid dividends on the common shares.

Dover Industries Limited operates flour mills in Ontario, Nova Scotia, Saskatchewan and Quebec, 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