Consolidated Statements of Operations and Retained Earnings
(Unaudited - Prepared by Management)
March 31 March 31
For the three months ended 2000 1999
Revenue $ 49,460,626 $ 31,083,691
Cost of Sales 36,522,099 22,635,589
Gross Margin 12,938,527 8,448,102
Operating expenses:
Salaries and benefits 7,675,230 5,326,343
General and administrative 2,583,182 1,558,982
Occupancy costs 544,196 177,386
Earnings before depreciation,
goodwill amortization, interest expense
and income taxes 2,135,919 1,385,391
Depreciation 451,132 334,353
Interest expense 86,564 105,729
Income before income taxes
and goodwill amortization 1,598,223 945,309
Income taxes 740,937 299,318
Income before goodwill amortization 857,286 645,991
Goodwill amortization,
net of taxes $6,000 (1999-nil) 272,755 130,885
Net income $ 584,531 $ 515,106
Net income per share - basic $ 0.03 $ 0.04
Net income per share - fully diluted 0.03 0.04
Income per share before
goodwill amortization - basic 0.05 0.04
Income per share before goodwill
amortization - fully diluted 0.05 0.04
