BOUCHERVILLE, Que. — The Canam Manac Group Inc. posted sales of $1,110,597,000 for the fiscal year ended Dec. 31, compared with $1,043,614,000 in 1999.
Net income reached $55,562,000, or $1.61 per share, compared with $47,593,000, or $1.35 per share, in 1999 — an increase of 17 per cent.
In the fourth quarter of 2000, net income totaled $17,272,000, or 51 cents per share, compared with $18,835,000, or 54 cents per share, for the same period in 1999.
Net income, before taxes and share of income, increased from $77,633,000 to $90,925,000 in 2000.
The Manac division beat the downturn in the trucking industry by maintaining profitability during the each quarter throughout the fiscal year, the company said.
In the trailer division, Manac’s sales declined slightly from $260,580,000 in 1999 to $252,647,000 in 2000. However, due to the decline in the North American market as a result of an increase in fuel prices, net income was $7,639,000 compared with $13,474,000 in 1999.
Manac built 7,852 trailers in 2000 compared with 8,119 in 1999.
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