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15 MONTHS: BUHLER INDUSTRIES' REVENUES UP 27%, RETURNS TO PROFITABILITY: $7 MILLION
Source: Buhler Industries news release

Revenue for the fifteen-month period was C$317.2 million ($253.5 million), up C$67.6 million ($50 million) from sales of $249.6 million ($199.5 million) in 2020.

The Company's increased sales growth for the period primarily results from the accounting change to a December year-end in 2021.

Net Income up for the Year

The net earnings for the fifteen-month period was C$8.9 million ($7.1 million), an improvement of C$34.7 million ($27.7 million) from the loss in the prior year. Increased gross profit of C$21.4 million ($17.1 million) drove most of the improvement over the prior year.

In addition, the Company recorded a gain on sale of intellectual property of C$12.7 million ($10.2 million) and increased asset disposals of C$0.8 million ($0.6 million) when compared to the prior year.

Exchange rate gains contributed C$3.1 million ($2.5 million) compared with the prior year. Finally, a gain on forgiveness of debt of C$1.5 million ($1.2 million) and reduced taxes of C$1.2 million ($1 million) were offset by increased spending on selling and administration costs of C$4.6 million ($3.7 million) and R&D of C$1.2 million ($1 million) due mostly to having five quarters in 2021 instead of four quarters in 2020.


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