CFM Corporation Announces Record Sales for The 2nd Quarter of Fiscal Year 2004.

Business Wire › April 28, 2004

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CFM Corporation Announces Record Sales for The 2nd Quarter of Fiscal Year 2004.

News Editors/Business Editors

MISSISSAUGA, Ontario--(BUSINESS WIRE)--April 28, 2004

CFM Corporation (TSX:CFM):

- CONFIRMS ANNUAL GUIDANCE

- ON TRACK WITH RESTRUCTURING

CFM Corporation ("CFM" or the "Company") (TSX:CFM) announced today its financial results for the second quarter and six months ended March 27, 2004.

- Sales up 11% to $109.6 million for the quarter

- Hearth product sales up 40%

- Net Income before restructuring costs of $4.3 million or $0.11 per share

- Restructuring activities on schedule and on budget

Change in Reporting Currency

As previously announced, effective fiscal 2004, the Company has changed its financial reporting currency from the Canadian dollar to the American dollar (U.S. dollar). With a significant portion of the Company's operations in the United States, reporting in Canadian dollars has resulted in significant variability in the Company's reported results caused by fluctuations in the value of the Canadian dollar relative to the U.S...

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