MONTREAL, June 29, 2018 (GLOBE NEWSWIRE) -- Perlite Canada inc. (the «Corporation») (TSX-V:PCI) announces hereby the results for its second quarter 2018 ended on April 30, 2018.
The Corporation generated revenues of $2,559,732 during the second quarter that ended April 30, 2018 (the “2nd Quarter 2018”) compared to revenues of $2,354,013 during the second quarter that ended April 30, 2017 being an increase of approximately 8.5 %. For the six-month period ended April 30, 2018, Corporation’s revenues were $4,860,405 compared to revenues of $4,537,635 for the same six-month period ended April 30, 2017, being an increase of approximately 7 %.
The Corporation recorded earnings before income taxes of $501,124 for the 2nd Quarter 2018 compared with earnings before income taxes of $409,961 for the same period in 2017, being an increase of approximately 22 %. For the six-month period ended April 30, 2018, the Corporation recorded earnings before income taxes of $789,599 compared to earnings before income taxes of $703,204 for the same period in 2017 being an increase approximately 12%.
The Corporation recorded net earnings of $340,815 for the 2nd Quarter 2018 compared to net earnings of $409,961 for the second quarter in 2017. For the six-month period ended April 30, 2018, the Corporation recorded net earnings of $525,290 compared to net earnings of $703,204 for the second quarter in 2017. The decrease of net earnings is explained by the income taxes payable by the Corporation while the Corporation had differed losses during the fiscal year of 2017 and did not have income taxes to pay.
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.
The TSX Venture Exchange is not responsible for the truth or accuracy of this press release.
FOR FURTHER INFORMATION, CONTACT:
Perlite Canada inc.
Richard Barabé or Martin Joyal : (514) 631-4251, (514) 631-4254 (Fax)