Five-Year Financial Summary Will be Updated in April, 2008
(Amounts in millions of Canadian dollars, U.S. GAAP)
| Years ended November 30, |
|
2006 |
2005 |
2004 |
2003 |
2002 |
| |
| Operating Results |
| Revenue |
|
$24.1 |
$11.1 |
$10.4 |
$8.1 |
$8.8 |
| Gross profit |
|
$10.9 |
$5.4 |
$6.0 |
$4.5 |
$4.4 |
| Gross profit percentage |
|
45.2% |
48.6% |
57.7% |
55.6% |
50.0% |
| Total operating expenses |
|
$10.3 |
$7.3 |
$5.7 |
$4.3 |
$3.6 |
| Net earnings (loss) before taxes |
|
$0.6 |
($1.9) |
$0.3 |
$0.2 |
$0.8 |
| Income tax expense (recovery) |
|
($0.1) |
$0.8 |
$0.0 |
($0.1) |
($0.2) |
| Net earnings (loss) |
|
$0.7 |
($2.7) |
$0.3 |
$0.3 |
$1.0 |
| Net earnings (loss) to common shareholders |
|
$0.8 |
($9.4) |
($0.0) |
($0.3) |
$1.0 |
| Basic earnings per share (loss) |
|
($0.03) |
($0.34) |
$0.00 |
($0.01) |
$0.04 |
| Diluted earnings per share (loss) |
|
($0.05) |
($0.34) |
$0.00 |
($0.01) |
$0.04 |
| |
| Financial Condition |
| Working capital |
|
$7.8 |
$15.2 |
$6.3 |
$5.5 |
$2.6 |
| Total assets |
|
$24.3 |
$21.2 |
$10.4 |
$9.0 |
$6.9 |
| Total liabilities |
|
$6.5 |
$4.3 |
$2.3 |
$1.9 |
$3.0 |
| Stockholders’ equity |
|
$17.8 |
$16.9 |
$8.1 |
$7.1 |
$3.9 |
|
In 2005, the net loss to common shareholders includes a $4.8 million non-cash one-time accretion of a beneficial conversion feature in the class B preference shares series 2.
Working capital is defined as current assets less current liabilities. Working capital does not have a standardized meaning or comparable measure under generally accepted accounting principles and may not be comparable to similar measures presented by other companies.
The Company is subject to risks and uncertainties affecting companies operating in high technology and defense sector markets. These risks and uncertainties may cause the Company's operating results to vary significantly over time and may contribute to the unpredictability of the Company's results. The Company advises you to refer to the discussion of Risks and Uncertainties published in the 2006 Annual Report. |
|
