Paulin Profit Declines
March 31
00:00
2007
Paulin Profit Declines
Jason Sandefur
H. Paulin & Co. reported net sales declined slightly to CAD 149.6 million (US$129.76 million) in 2006, while net income slipped 16% to CAD 5.03 million (US$4.4m).
During the fourth quarter of 2006 sales dropped 6% to CAD 32.15 million(US$27.8m), with net income declining 51% to CAD 552,000 (US$478,795).
Paulin warned that changes at the Home Depot related to its fastener suppliers “will have a material adverse impact on revenues and profits in 2007.” The company said it expects to finalize a supply agreement with Home Depot Canada. Web: hpaulin.com �2007 FastenerNews.com
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