EDMONTON, Alta. — Revenues generated in the Ontario Service and Parts division of Raydan Manufacturing are the primary reason behind the companys financial growth for the second quarter ended Oct. 31, 2006.
The Edmonton-based company reported a quarterly revenue increase of 70% to $6,501,883 and a net profit increase of 168% to $351,267 compared to revenue of $3,835,886 and a net profit of $136,348 for the same period one year ago.
The year to date revenue is $12,308,272, which is 78% greater than last year’s total revenue to date of $6,890,155.
“Market conditions for the manufacturing and service department in Alberta are expected to be favorable throughout the remainder of fiscal 2007,” said Ray English, president and CEO of Raydan. “Additionally, international manufacturing activity looks strong setting the foundation for increased acceptance of Raydan’s products and greater brand recognition in international markets.”
Raydan develops and produces specialized suspension and coupling systems for trucks, trailers and heavy equipment, as well as a chassis modifications center and a military service facility.
The demand for Air Link products was strong in the second quarter with sales of $2,611,119 and the company expects demand to remain so throughout 2007.
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