Business Editors
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--May 29, 2001
BCT International, Inc. (Nasdaq:BCTI), which through its Franchises operates the world's largest wholesale printing chain, today announced earnings for its 2001 fiscal year.
For the year ended February 28, 2001, revenues decreased 1.1% to $19.4 million, compared with revenues of $19.6 million in the previous fiscal year. Net income decreased to $664,000, or $0.13 per diluted share versus net income of $1,014,000, or $0.19 per diluted share, in the fiscal year ended February 29, 2000.
The change in revenues resulted from several significant events. Sales of the BCT Franchise Network were flat. In addition, three franchises ceased operations in fiscal 2001, and catalog sales declined from the prior year when a revised catalog was introduced. All of the above factors had a significant impact on net income.
BCT International, Inc. is a holding company which operates Business Cards Tomorrow, the world's largest wholesale printing chain, with 84 Franchises in the United States, Canada, and Argentina. The Company is headquartered in Ft. Lauderdale, Florida and its common stock trades on Nasdaq under the symbol "BCTI".
This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products in the marketplace, competitive factors, new products and technological changes, product prices and raw material costs, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
BCT
