Dynetek Industries Ltd has reported strong results for the three months and the twelve months ended December 31, 2006 despite business being dogged by supply problems.
Revenues from cylinder and systems sales for the twelve months ended December 31, 2006 reached $35.9m, an increase of $12.4m or 53 per cent compared with the twelve months ended December 31, 2005.
Revenues from cylinder and system sales for the three months ended December 31, 2006 were also strong with an end figure of $11.3m, an increase of $5.4 million, or 92 per cent compared with the same period of 2005.
Christian Rasche, president and chief executive officer, noted that the increase in fourth quarter revenues reflects shipments that were deferred from the second and third quarters due to delivery delays in raw materials. As noted in Dynetek’s second quarter 2006 report, heavy rains and flooding shut down the manufacturing plant of a key raw material supplier and prevented it from delivering for a period of time.
... to continue reading you must be subscribed
