Gemini Corporation Reports 2011 Second Quarter Results

Gemini Corporation (TSX VENTURE:GKX) announces its second quarter financial
results for the period ended June 30, 2011.


Revenue in the second quarter of 2011 totalled $15,208,000, which was a 16%
decline from the $18,187,000 achieved in the second quarter of 2010. This
represented an improvement in revenue compared to the first quarter and brings
the 2011 year to date total revenue to $26,584,000, which remains 27% below the
$36,231,000 achieved in the first six months of 2010. Engineering and
maintenance revenue strengthened throughout the second quarter and fabrication
activity began to improve in the latter half of the quarter. It is anticipated
that there will be strong demand for our services for the remainder of the year
as clients adjust capital programs to compensate for the inclement weather and
flooding conditions experienced in various locations across western Canada.
Field facility work is expected to strengthen and engineering activity is
anticipated to remain strong through the remainder of the year, which should
result in higher quarterly revenues.


Second quarter gross profit for 2011 was $3,239,000 compared to $4,200,000 for
the same period of 2010. Year to date gross profit for 2011 of $5,327,000
remains significantly below the $8,327,000 achieved over the first half of last
year. Although gross profit improved in the second quarter, it was not enough to
generate positive net earnings for the period. Steps are continuing to be taken
to reduce both fixed and variable costs in an effort to align them to revenues.
The second quarter net loss of $174,000 (0.5 cents per share) is a dramatic
improvement over the loss experienced in the first quarter, but it increases the
year to date net loss to $1,147,000 (3.3 cents per share). Increasing revenues
and realigned fixed costs are expected to improve operating results enough to
offset these losses by year end. 


"The second quarter results were a welcome improvement over those achieved in
the prior two quarters, however, they were still below expectation", stated Doug
Lautermilch, Gemini's President and CEO. "Significant business development
effort has been put forward to increase revenues and it is beginning to show
positive results. Maintaining this momentum as we continue to adjust our cost
structure to achieve acceptable profitability is the primary concern for
management at the present time."


About Gemini Corporation 

Gemini Corporation is a professional services firm that designs, builds and
maintains energy and industrial facilities. Founded in 1982, Gemini provides
services on either a standalone basis or by combining engineering and field
service capabilities to increase project efficiency and provide a single point
of accountability. The Corporation's principal target markets are conventional
and unconventional oil and gas, in-situ heavy oil, and heavy industrial
facilities. 


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 2011 second-quarter financial report will be filed with SEDAR at
http://www.sedar.com by August 19, 2011.


CONSOLIDATED FINANCIAL HIGHLIGHTS



Operating Highlights ($'000)        Three Months Ended     Six Months Ended

                                    June 30,   June 30,  June 30,   June 30,
                                       2011       2010      2011       2010

Revenue                           $  15,208  $  18,187 $  26,584  $  36,231
Gross profit                          3,239      4,200     5,327      8,327
Earnings before interest & taxes       (174)       359    (1,473)       893
Net (loss) earnings               $    (174) $     190 $  (1,147) $     518
                                                                            
Earnings per share (basic)        $  (0.005) $   0.005 $  (0.033) $   0.015
Earnings per share (diluted)      $  (0.005) $   0.005 $  (0.033) $   0.015
                                                                            
Operating cash flow (i)                                                     
(excludes working capital changes) $     76  $     680 $    (978) $   1,513
Operating cash flow per share      $  0.002  $   0.019 $  (0.028) $   0.043

                                                       June 30,    December
Balance Sheet Highlights ($'000)                          2011     31, 2010

Working capital                                    $     7,989  $     8,802
Total assets                                            21,856       23,246
Shareholders' equity                                    13,590       14,661

(1) 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.