Dover Industries Limited

Dover Industries Limited

May 07, 2008 14:15 ET

Dover Industries Limited (DVI) Financial Results-Three Month Period Ended March 31, 2008

BURLINGTON, ONTARIO--(Marketwire - May 7, 2008) - Dover Industries Limited (TSX:DVI) announced that income after tax from the continuing operations for the three months ended March 31, 2008 was $1,992,000 ($0.29 per basic and diluted share), compared to $1,563,000 ($0.23 per basic and diluted share) for the same period last year.

Sales for the quarter were $73,695,000, an increase of 53.8% compared to $47,922,000 in 2007, primarily related to the increase in wheat prices and the Saskatchewan milling acquisition reporting a full quarter of sales in 2008.

Net and comprehensive income for the first quarter ended March 31, 2008 was $1,992,000 ($1,523,000 in 2007). After provisions for income taxes, net income per basic and diluted share is $0.29 compared to $0.22 for the first quarter of 2007.

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.

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Contact Information

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