RERMAG

Slight Revenue Drop But Continued Profitability for Western

Western Power & Equipment Corp., a dealer of construction equipment, last week reported a 3.6 percent year-over-year decrease in revenues for the three-month period ended Oct. 31, 2004, dropping to $26.7 million from $27.7 million last year. Net income was $519,000, or 5 cents per basic and diluted share, compared with a net income of $584,000 or 6 cents per share for the same period last year.

“Revenues were down from the prior year’s comparative period as a result of a leveling of last year’s improved economic conditions, especially in the Pacific Northwest,” said president and CEO Dean McLain. “Regardless, Western continues to make a remarkable turnaround and the company will see sustained improvements in operations, sales and profitability during the fiscal year.”

Western returned to profitability in its fiscal year ending July 31, 2003, and continues to be profitable.

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