FLAGSHIP INDUSTRIES INC.
TSX VENTURE : FII

July 05, 2005 11:23 ET

Flagship Industries Inc.: 2nd Quarter Results

MARKHAM, ONTARIO--(CCNMatthews - July 5, 2005) - Flagship Industries Inc. (TSX VENTURE:FII) of Markham, Ontario reports net income of $138,665 for the six months ended May 31, 2005 compared to net income of $124,306 for the same period last year. Income per share for the six months ended May 31, 2005 was 2.3 cents per share versus income per share of 2.0 cents for the same period in 2004. Book value was 13.4 cents per share at May 31, 2005.



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Six months ended May 31 2005 2004
$ $
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Revenue 154,182 142,188
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Net income 138,665 124,306
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Net income per share 0.023 0.020
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Book value per share 13.4 11.2
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Average number of shares outstanding 6,113,275 6,113,275
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Flagship is a holding company based in Markham, Ontario, having various investments in Canada and the United States. The Company currently has issued and outstanding 6,113,275 common shares. The directors of the Company are Joseph A. Devine, CEO, Cynthia J. Devine, G. Michael Devine and Sarah Langdon.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Flagship Industries Inc.
    Suzanne Blythe
    (905) 477-7689
    (905) 479-9870 (FAX)