Roman Corp. 1989 earnings a step towards profit goal

Roman Corp., the Toronto-based holding company that owns 25.4% of Denison Mines (TSE), reported earnings before extraordinary items, of $2.3 million or 24 cents per share in 1989, compared with a loss of $1.7 million or 17 cents per share a year earlier. Revenues increased in 1989 to $49.2 million from $43.4 million in 1988. An extraordinary gain of $5.4 million, relating to a credit that arose when Denison issued additional participating shares at a price in excess of the company’s carrying value, brought 1989 net earnings to $7.8 million or 79 cents per share. There were no extraordinary items in 1988.

Chairman Helen Roman-Barber attributed Roman’s financial results to record high sales reported by Strathcona Paper and to larger equity contributions from Denison and Standard Trustco.

“These achievements, combined with the underlying strength of Lawson Mardon Group Ltd., help position Roman to attain its overall goal of long-term profitability,” she said.

Roman owns 26% of Lawson Mardon, a diversified international packaging and printing company which reported net earnings of $26.4 million in 1989, compared with $42 million in 1988.

Strathcona, Roman’s wholly owned operation division, reported record sales of $43.3 million in 1989, despite a 5% decline in overall boxboard industry shipments.

Roman’s 44.2% owned affiliate Standard Trustco increased its net income by 20% in 1989 to $16.2 million. Standard Trustco owns Standard Trust, Canada’s ninth largest trust company.006 0508,0206,0304,0008 Roman (TSE) $000s except per-share items Year ended Dec. 31 1989 1988 Revenue $49,202 $43,495 Net earnings (loss) 7,803 (1,711 )

per share 0.79 (0.17 )004