MONTREAL,
QUEBEC--Perlite Canada inc. (the "company")
announces hereby the results for the
year ended October 31, 2007.
Corporate sales for fiscal year
2006-2007 were $4,719,354, compared to
$4,931,945 for the fiscal year
2005-2006. This decrease of 4% is
explained mainly by a sale decrease for
New Brunswick initiated during fiscal
year 2006 and continued in 2007.
Actually, sales in New Brunswick for
fiscal year 2007 amounted to $118,427
compared to $960,003 for fiscal year
2006. The Company was successful in
making up for the sales decrease in New
Brunswick by increasing sales in Quebec
and in Ontario. Indeed, sales for Quebec
and Ontario totalized $4,600,927
compared to $3,971,942 for fiscal year
2006, an increase of 16%.
Concerning the earnings before taxes,
from $713,444 in 2006 they went to
$226,783 in 2007. This decrease in
earnings can be explained mainly by the
slight decrease in sales mentioned
earlier as well as by a reduction of the
gross margin caused by higher production
costs related to the rise of oil
products and to raw perlite processing.
The basic earnings per common share
decreased going from $.05 for fiscal
year 2006 to $.02 for the year ended
October 31, 2007.
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.
The TSX Venture Exchange is not
responsible for the truth or accuracy of
this press release.
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