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PCI Perlite Canada Inc.

0.81
0.00 (0.00%)
05 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Perlite Canada Inc. TSXV:PCI TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.81 0.78 0.82 0 01:00:00

Perlite Canada Inc. Announces its Results for the Second Quarter of 2013

02/07/2013 6:14pm

Marketwired Canada


Perlite Canada inc. (the "Company") (TSX VENTURE:PCI) announces hereby the
results for its second quarter 2013 ended on April 30, 2013 (the "2nd Quarter
2013").


The Company's sales total $1,731,528 during the second quarter ended April 30,
2013 (the "2nd Quarter 2013") compared to $1,648,007 during the second quarter
ended April 30, 2012, namely an increase of approximately 5%. 


The Company recorded earnings before income taxes of $127,659 for the 2nd
Quarter 2013 compared to a loss before income taxes of $39,239 for the same
period in 2012.This significant increase of Company's earnings before income
taxes is mainly explained by the reduction of manufacturing costs, by the
efficiency of perlite processing systems at both Company's plants and by the
reduction of management costs. The Company generated net earnings of $127,659
for the 2nd Quarter 2013 compared to a net loss of $39,239 for the 2nd Quarter
2012.


For the six months period ended April 30, 2013, Company's sales revenue was
$3,034,178 compared to sales revenue of $3,331,489 for the same six months
period ended April 30, 2012 which represents an approximate decrease of 9%. For
the six months period ended April 30, 2013, the Company recorded earnings before
taxes of $192,227 comparatively to a loss before taxes of $58,055 for the same
period in 2012 and net earnings totalling also $192,227 compared to a net loss
of $58,055 for the same period in 2012.


The Company also announces the adoption by the shareholders of the Company of a
rights plan adopted by the Directors in December, 2006. The purpose of the
rights plan is to ensure adequate time for shareholders of the Company to assess
the merits of a takeover bid without undue pressure. The rights plan would be
terminated if the rights agreement is not approved by the shareholders every
two-year thereafter and so on. The rights plan has been approved by the
shareholders in April 2009, in April 2011 and in April 2013.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Perlite Canada Inc.
Richard Barabe or Martin Joyal
(514) 631-4251
(514) 631-4254 (FAX)

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