Perlite Canada Inc. Announces its Results for Fiscal Year 2008-2009
01 Março 2010 - 12:48PM
Marketwired
Perlite Canada inc. (the "Company")(TSX VENTURE: PCI) announces
hereby the results for the year ended October 31, 2009.
The main event occurred during the fiscal year 2009 is the
acquisition of the perlite and vermiculite processing plant located
in Lachine, Quebec, (the "Lachine Plant") on November 14, 2008
owned by Normiska Corporation.
This acquisition had a major impact on the Company's results and
allowed the Company to increase significantly its revenues during
the fiscal year 2009 compared to the fiscal year ended on October
31, 2008. More particularly, the Company's sales totalled
$6,810,413 for the fiscal year 2009 compare to $3,509,360 for the
fiscal year 2008, representing an increase of approximately
94%.
During fiscal year 2009, management of the Company focused on
consolidation of acquired customers and on integration of the
Lachine Plant with success. However, the Company posted a net loss
of $432,736 during fiscal year 2009 compared to a net loss of
$329,345 for fiscal year 2008. During the fiscal year 2010, the
management anticipates to concentrate on rationalization of its
operations and maximization of the synergies generated by the
acquisition of Lachine Plant.
Perlite Canada inc. has become a leading company in Canada in
the processing, distribution and sale of perlite and vermiculite,
two minerals used in industry and horticulture.
The common shares of Perlite Canada inc. are listed for trading
on the TSX Venture Exchange.
This press release contains forward-looking statements to which
are associated some risks and uncertainties. Any statement
contained in this present press release that does not constitute an
historical fact can be considered as a forward-looking statement.
In this present press release, verbs such as "believe",
"anticipate", "assess" and other similar expressions indicate
generally forward-looking statements. Those statements do not
warrant as for the future performance of Perlite Canada inc. and
they suppose known and unknown risks as well as uncertainties in
such a way that true future perspectives, returns or results of the
Company may be notably different of future returns or results
expressed or implied by these forward-looking statements.
The TSX Venture Exchange is not responsible for the truth or
accuracy of this press release.
Contacts: Perlite Canada inc. Richard Barabe 514-336-6665
514-336-6651 (FAX) Perlite Canada inc. Martin Joyal 514-336-6665
514-336-6651 (FAX)
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