USA: Mushroom group Sylvan sees drop in Q2 net income
Saxonburg, Pa.-based fungal technology giant Sylvan has posted net income of US$1m, or US$0.18 per share, for its Q2 ended 30 June, down from US$1.4m, or US$0.25 per share, in the Q2 2001. Operating income for the Q2 2002 was US$1.8m. Net income for the H1 ended 30 June was US$2.2m, or US$0.4 per share, compared to US$2.5m, or US$0.46 per share, for the corresponding 2001 period. Operating income for the H1 2002 was US$4.1m, and strong cash flow allowed for debt reduction payments of over US$5.6m.
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