Airboss of America reports strong sales, level profits in 2005

Newmarket, Ontario - AirBoss of America Corp.has reported its results for the 12 months to December 31, 2005. The company said sales were up by 17.5 percent, to Can$226 million (€161.5 million), but operating profits (EBITDA) were well down on last year, falling to Can$9.97 million, from Can$17.1 million. Net income per share was similar to last year at just Can$1.6 million, down from Can$1.73 million.

Airboss said the sales increases came from all three of the Company's businesses including rubber compounding, military and first response safety products and railway track fastening products. Net income for the year from continuing operations before taxes was reduced due to two non-recurring items including the settlement of a US patent lawsuit and the closure of a temporary rubber mixing facility.

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Results statement from Airboss