Broadview Press Inc.

Broadview Press Inc.

May 25, 2009 17:44 ET

Broadview Press Inc. Announces Q1 2009 Results

CALGARY, ALBERTA--(Marketwire - May 25, 2009) - Broadview Press (TSX VENTURE:BDP) reports that its net sales for Q1 2009 declined marginally from the same period in 2008. Gross sales for the first quarter of 2009 were $732,424, down $135,318 or 15.6% from the previous year (2008: $867,742). The decline is in line with management's expectations in the light of the sale of the company's history and social sciences lists May 1, 2008. Returns for Q1 2009 declined by 29.9% to $290,545 (2008:$414,358). As a result, net sales in Q1 declined marginally from the previous year, to $441,878 (2008: $453,384).

The company benefitted from currency change, with the Canadian dollar weaker in the first quarter against the American dollar than it had been over the same period in 2008. Management is less sanguine about the impact of currency valuations on results in the key third quarter, in light of the recent upward movement of the Canadian dollar.

Because Broadview's operations are seasonal, the company historically posts losses in the first and second quarters, typically followed by profits in the third and fourth quarters. For Q1 2009, the company is reporting a loss of $276,865 before tax provisions (2008: -$456,662) and a net loss after tax provisions of $188,268 (2008: -$303,680).

Broadview's quarterly financial statements, as well as its management discussion and analysis of these results, can be read by visiting Broadview Press is an internationally-oriented, Canadian-based academic book publisher.

Certain statements contained in this press release may be considered as forward-looking. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from estimated or implied results.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Broadview Press Inc.
    Don LePan
    President and CEO
    (403) 232-1443