Mont Saint-Sauveur International Inc.

Mont Saint-Sauveur International Inc.

March 22, 2005 09:46 ET

Mont Saint-Sauveur International Inc. Posts Higher Earnings


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: MONT SAINT-SAUVEUR INTERNATIONAL INC.

TSX VENTURE SYMBOL: MSX.A

MARCH 22, 2005 - 09:46 ET

Mont Saint-Sauveur International Inc. Posts Higher
Earnings

SAINT-SAUVEUR, QUEBEC--(CCNMatthews - March 22, 2005) - Our 2004-2005
winter season got off to a good start. Snow fell before Christmas and
100% of our slopes were ready to welcome skiers and snowboarders over
the holidays. Attendance was high, with all of our resorts chalking up
excellent early-season results.

For the third quarter ended January 23, 2005, the Company posted revenue
of $26.5 million, compared with $20 million for the corresponding
quarter a year earlier. Other than our resorts' financial performance,
this 32% increase may be explained by sustained real estate sales,
particularly at Jay Peak, Vermont.

The fact that real estate construction accounted for a higher share of
our overall results than the leisure sector led to a change in our cost
structure between the two quarters under comparison. The shift in the
relative weights of the two sectors meant that the increase in our net
earnings, which rose by 15%, from $2.8 million ($0.37 per share) to $3.2
million ($0.43), was lower than the increase in sales.

For the first nine months of 2004-2005, sales added up to a record $40.4
million - a 32.5% improvement over our $30.5 million sales figure for
the corresponding nine months a year earlier. The increase may be
explained mainly by higher real estate sales. Our bottom line shows an
83% improvement in net earnings, which surged ahead from $499,583 ($0.07
per share) to $917,751 ($0.12) - another corporate record.

The season is off to a great start and the fourth quarter looks highly
promising. There is reason to hope that we can repeat the performance
chalked up during our previous fourth quarter and meet our operating
targets.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Mont Saint-Sauveur International Inc.
    Jacques G. Hebert, FCA
    Chairman of the Board and Chief Executive Officer
    (514) 871-0101
    TSX Venture Exchange does not accept responsibility for the adequacy or
    accuracy of this release.