MONTREAL, QUEBEC--(Marketwired - Jun 30, 2014) - Perlite Canada inc. (TSX VENTURE:PCI)(the «Corporation») announces hereby the results for its second quarter 2014 ended on April 30, 2014 (the "2nd Quarter 2014").
The Corporation generated revenues of $1,762,360 during the 2nd Quarter 2014 compared to $1,731,528 during the second quarter ended April 30, 2013 being an increase of approximately 2 %. For the six months period ended April 30, 2014, Corporation's revenues was $3,108,607 compared to sales revenue of $3,034,178 for the same six months period ended April 30, 2013 which represents an approximate increase of 2,5%.
The Corporation recorded earnings before income taxes of $169,835 for the 2nd Quarter 2014 compared with earnings before income taxes of $127 659 for the same period in 2013. For the six months period ended April 30, 2014, the Corporation recorded earnings before income taxes of $145,873 compared to earnings before income taxes of $192 227 for the same period in 2013.
It should be noted that the Corporation has registered a write-down of property, plant and equipment held for sale in the amount of $34,746 during the 2nd Quarter 2014 in order to take account the purchase offer of the building held by the Corporation in New-Brunswick to bring the value of this building at the purchase price net of expenses relating to the sale. This building has been sold on June 12, 2014. The Corporation has Also recorded a foreign exchange loss of $90,878 during the first quarter of the Fiscal Year following the decrease of the Canadian dollar compare with the American dollars during that period.
Perlite Canada inc. has become a leading Corporation 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 Corporation may be notably different of future returns or results expressed or implied by these forward-looking statements.
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