Gemini Corporation Reports 2010 Third Quarter Results

Gemini Corporation (TSX VENTURE:GKX) announces its third quarter financial
results for the period ended September 30, 2010.


Revenue in the third quarter totalled $20,967,000, which was 13% lower than the
$23,991,000 achieved in the third quarter of 2009. This brings year to date
revenues to $57,198,000 for 2010 compared to $54,013,000 for 2009. Third quarter
revenues weakened as a result of slower construction activity compared to the
same period last year, however, third quarter revenues increased over the second
quarter results. Project delays and fewer than expected project opportunities
have led to a reduction in backlogs that are anticipated to remain weak through
to the second quarter of 2011. The predicted strengthening of fourth quarter
activity for the Engineered Solutions segment is now expected to remain subdued
until early in the New Year. Business development initiatives directed at
building the Corporation's backlog are increasing Gemini's profile in the market
and generating a marked increase in client engagement.


Third quarter gross profits for 2010 were $4,095,000 compared to $3,833,000 in
the same period last year. Margins for 2010 are continuing to outpace those
achieved in 2009 and there are no obvious issues that should cause them to
change in the near term. The restructuring initiatives undertaken in the second
quarter had the desired effect of reducing fixed costs by nearly $300,000 in the
third quarter. Third quarter net earnings were $375,000 (1.1 cents per share) in
2010 compared to a loss of $45,000 (0.1 cents per share) in 2009. Year to date
net earnings now total $879,000 (2.5 cents per share) for 2010 compared to
$373,000 (1.1 cents per share) for the same period last year.


"The third quarter demand for Gemini services increased in line with
expectations", said Doug Lautermilch, Gemini's President and CEO. "We are
continuing to emphasize our "One Brand, One Company, One Culture" theme as we
further develop client relationships in our drive toward improving
profitability."


About Gemini Corporation 

Gemini Corporation offers a wide range of interrelated services including
project management, engineering, fabrication, construction, and maintenance of
oil & gas and industrial facilities within Canada and internationally. The
Corporation is a leading provider of field solutions and engineered solutions
through either standalone or integrated service approaches to a broadening
client base in the energy, industrial and environmental sectors. The
Corporation's principal target markets are on-shore oil and gas, in-situ heavy
oil, heavy industrial, power and co-generation, and renewable energy.


Shares of Gemini trade on the TSX Venture Exchange under the symbol "GKX". For
more information about the Corporation and its services, go to
www.geminicorp.ca. 


Gemini's 2010 third-quarter report will be filed with SEDAR at
http://www.sedar.com by November 29, 2010.


CONSOLIDATED FINANCIAL HIGHLIGHTS



Operating Highlights                                                        
 ($'000)                     Three Months Ended           Nine Months Ended
                          Sept 30,      Sept 30,      Sept 30,      Sept 30,
                             2010          2009          2010          2009
Revenue              $     20,967 $      23,991  $     57,198 $      54,013
Gross profit                4,095         3,833        12,356        11,785
Earnings before                                                            
 interest & taxes             622            35         1,490           757
Net earnings (loss)  $        375 $         (45) $        879 $         373
Earnings per share                                                         
 (basic)             $      0.011 $      (0.001) $      0.025 $       0.011
Earnings per share                                                         
 (diluted)           $      0.011 $      (0.001) $      0.025 $       0.011
                                                                            
Operating cash flow                                                         
 (i)(excludes working                                                       
 capital changes)    $        673 $         350  $      1,723 $       1,475
Operating cash flow                                                         
 per share (i)       $      0.019 $       0.010  $      0.049 $       0.042
                                                                            
Balance Sheet Highlights ($'000)         September 30,2010 December 31, 2009
Working capital                                   $ 13,263          $ 11,793
Total assets                                        28,856            32,873
Shareholders' equity                                16,188            15,162



(i) Operating cash flow and operating cash flow per share are non-GAAP financial
measures which do not have a standard meaning and therefore may not be
comparable to similar measures presented by other companies. The Corporation
provides these measures in its quarterly news releases to indicate the amount of
cash generated for operating purposes during the period.


Disclaimer

This news release contains forward looking information that represents Gemini's
internal projections, expectations, estimates or beliefs concerning, among other
things, future operating results and various components thereof or Gemini's
future economic performance. All statements other than the statements of
historical fact may be forward-looking statements. In some cases,
forward-looking statements can be identified by terminology such as "may",
"will", "should", "expects", "projects", "plans", "anticipates", and similar
expressions. The projections, estimates and beliefs contained in such
forward-looking statements are based on management's assumptions relating to
Gemini's performance and competition within the sectors in which it competes,
the continuation of the current regulatory and tax regimes in the jurisdictions
in which Gemini operates, and necessarily involve known and unknown risks and
uncertainties, including risks and assumptions relating to client service
demand, field service costs, labour rates, and other factors that may cause
actual performance and financial results in future periods to differ materially
from any projections of future performance or results expressed or implied by
such forward-looking statements. Accordingly, readers are cautioned that events
or circumstances could cause results to differ materially from those predicted
or suggested. The Corporation does not undertake to update any forward-looking
information in this document whether as to new information, future events or
otherwise.