Perlite Canada Inc. Announces Its Results for Its Third Quarter of 2011
September 29 2011 - 4:23PM
Marketwired
Perlite Canada inc. (TSX VENTURE: PCI)(the "company") announces
hereby the results of its third quarter 2011.
The Company generated revenues of $1,601,043 during the third
quarter ended July 31, 2011 (the "3rd Quarter 2011) compared to
$1,670,977 as at July 31, 2010, being a decrease of approximately
4.2%. For the nine month period ended July 31, 2011, total sales
were $5,389,949 compared to $5,595,441 for the same period in 2010,
which represents a decrease of approximately 4%. This decrease is
mainly attributable to the decrease of vermiculite sales during the
spring 2011 due to delays with our vermiculite delivery by our main
supplier.
The Company recorded a loss before taxes of $89,805 during the
3rd Quarter 2011 compared to a loss before taxes of $170,124 for
the third Quarter of 2010. For the nine month period ended July 31,
2011 the company generated a loss before taxes of $61,375 compared
to a loss before taxes of $203,047 for the same period in 2010 and
a loss before taxes of $411,807 for the same period in 2009.
The Company generated a net loss of $61,307 during the 3rd
Quarter 2011 compared to net loss of $121,167 for the same period
in 2010. For the nine month period ended July 31, 2011, the company
posted a net loss of $41 646 compared to a net loss of $132,798 for
the same period in 2010 and a net loss of $378,012 for the same
period in 2009.
Management is still working to complete the rationalisation plan
put in place to maximize the synergies and ensure the optimal use
of the Company's resources.
Perlite Canada inc. specializes 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.
Certain statements in this news release may contain
forward-looking statements. Such statements involve known and
unknown risks, uncertainties and other factors that may cause the
actual results, performance or achievements to differ materially
from those expressed in the forward-looking statements. Perlite
Canada inc. does not assume responsibility for the accuracy and
completeness of the forward-looking statements and do not undertake
any obligation to publicly revise these forward-looking statements
to reflect subsequent events or circumstances.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Perlite Canada inc. Richard Barabe (514) 631-4251
(514) 631-4254 (FAX) Perlite Canada inc. Martin Joyal (514)
631-4251 (514) 631-4254 (FAX)
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