Newlook Industries Corp.
TSX VENTURE : NLI

Newlook Industries Corp.

December 01, 2009 09:18 ET

Newlook Announces Third Quarter 2009 Operating Results

TORONTO, ONTARIO--(Marketwire - Dec. 1, 2009) - Newlook Industries Corp. (TSX VENTURE:NLI) ("Newlook" or the "Company") announces it has released its unaudited operating results for the three and nine months ended September 30, 2009.

Net earnings for the three month period ended September 30, 2009 were $495,406 compared to a loss of $158,782 during the comparative period in the prior year. Year to date September 2009 net earnings were $4,875,795 compared to a loss of $9,151 during the same period in the prior year.

Operating results for the three months ended September 30, 2009 were affected by a non-recurring gain of $751,162. In addition, operating results during the nine month period ended September 30, 2009 were affected by special one-time gains totalling $6,342,408.

John G. Simmonds, Newlook CEO stated; "The operating results of the three and nine months ended September 30, 2009 reflect the restructuring the Company is currently undertaking. Further steps are being planned to transition the Company to a new business strategy. We anticipate calling a special meeting in the near future to satisfy shareholder and regulatory approvals."

Newlook Industries Corp., headquartered in Toronto, Ontario, is a publicly traded company listed on the TSX Venture Exchange. For more information please call (905) 833-9845 or refer to www.sedar.com.

The management of the company, who take full responsibility for its content, prepared this press release. This press release contains forward-looking statements relating to future events and results that are based on Newlook's current expectations. These statements involve risks and uncertainties including, without limitation, Newlook's ability to successfully develop and market its products, consumer acceptance of such products, competitive pressures relating to price reductions, new product introductions by third parties, technological innovations, and overall market conditions. Consequently, actual events and results in future periods may differ materially from those currently expected.

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

Contact Information

  • Newlook Industries Corp.
    John G. Simmonds
    Chief Executive Officer
    (905) 833-9845 ext. 223
    or
    Newlook Industries Corp.
    Gary N. Hokkanen
    Chief Financial Officer
    (905) 833-9845 ext. 228