Perlite Canada Inc. Announces its Results for the First Quarter of 2011
March 31 2011 - 4:30PM
Marketwired
Perlite Canada inc. (the "Company")(TSX VENTURE: PCI)announces
hereby the results for its first quarter 2011 ended on January 31,
2011 (the "1st Quarter 2011").
The Company's sales totals $1,600,402 for the 1st Quarter 2011
compared to $1,608,171 for the first quarter of the fiscal year
2010.
The Company posted a net loss of $23 290 during the 1st Quarter
2011 compared to a net loss of $66,334 for the first quarter of the
fiscal year 2010.
The fact that the Company maintained an amount of sales during
the 1st Quarter 2011 similar to the amount of sales for the same
period in 2010 shows that the Company succeeded with the transfer
of processing operations from the Baie-du-Febvre plant, which
closed in march 2010, to the Lachine and Saint-Pacome plants.
The loss decrease is mainly explained by the consolidation and
rationalization plan initiated by the Management of the Company
during fiscal year 2010, including among others, the shutdown of
Baie-du-Febvre plant. Management of the Company intends to pursue
and complete this consolidation and rationalization plan during
fiscal year 2011.
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 or Martin Joyal
514-631-4251 514-631-4254 (FAX)
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