Buhler Industries Reports 1st Quarter Earnings
Winnipeg, Manitoba
January 21, 2005

3 months to December 31, 2004 Year ago
Revenue $45,811,000
$42,303,000
Net profit $1,647,000
$2,093,000
Net profit / share $0.07 $0.09

Revenue Increased

First quarter revenue increased 8.3% to $45.8 million compared with $42.3 million last year.

Net Earnings Decreased

First quarter earnings decreased by 21.3% to $1.6 million ($0.07 per share) compared with $2.1 million ($0.09 per share) last year. The recent unprecedented steel price increases will continue to have a negative impact on earnings.

The number of shares outstanding is 25 million compared to 23 million last year.

Dividend

The Company increased its annual dividend for the 12th consecutive year from $0.13 to $0.14 per share. The dividend was paid on January 14, 2005, to shareholders of record on December 3, 2004.

Complete Financial Statement

Contact

Craig Engel - President
Phone: (204) 228-6206
E-mail: cengel@buhler.com

Trading symbol: BUI

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