August 19, 2009 16:00 ET

Nordex Explosives Announces Second Quarter 2009 Results-Increases in Sales, Gross Margin and Net Income

MISSISSAUGA, ONTARIO--(Marketwire - Aug. 19, 2009) -


LES EXPLOSIFS NORDEX LTEE./NORDEX EXPLOSIVES LTD. (TSX VENTURE:NXX) today announced financial results for its Second Quarter ended June 30, 2009.

Revenue for the Second Quarter ending June 30, 2009 was $2,139,381 compared to $1,686,237 for the comparative period in 2008 representing an increase of 27%.

For the Second Quarter ended June 30, 2009, Nordex recorded a net income of $423,621. This amount includes the net recovery of $269,298 related to accounts receivable written off in prior periods. Net income before tax and excluding the recovery of accounts receivable increased by 110% to $154,323 for the period compared to $73,481 for the comparative period in 2008.

Gross profit margin for the three month period ending June 30, 2009 increased to 25.8% compared to 19.2% for the same period in 2008.

Earnings per share increased to $0.06 during the Second Quarter compared to $0.016 during the comparative period in 2008.

John Kozak, President of Nordex Explosives stated "The Company has worked very hard over the last year to expand its manufacturing and product lines and to increase its service offerings. We are extremely pleased that these efforts have resulted in substantial increases to our sales, gross margins and profit in the latest quarter."

The Company's Financial Statements and Management Discussion & Analysis for the Second Quarter are available on SEDAR at


Certain information included herein may contain "forward-looking statements" which reflect the current expectations of management of the Company regarding the Company's future growth, results of operations, performance, business prospects and opportunities. Wherever possible, words such as "may", "would", "could", "should", "will", "anticipate", "believe", "plan", "expect", "intend", "estimate", "aim", "endeavour", "seek", "predict", "potential" and similar expressions have been used to identify these forward-looking statements. These statements reflect management's current beliefs with respect to future events and are based on information currently available to management of the Company. Forward-looking statements involve significant risks, uncertainties and assumptions. Many factors could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, without limitation, cancellations of or the failure to renew purchase orders; production and delivery issues; quality, pricing and availability of raw materials; compliance with environmental regulations; exchange rate fluctuations as well as the other risks identified in the "Risk Factors" contained in the Company's Management Discussion and Analysis for the First Quarter and other public filings (copies of which may be obtained at Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by this press release. These factors should be considered carefully and the reader should not place undue reliance on the forward-looking statements. Although any forward-looking statements contained in this press release are based upon what management currently believes to be reasonable assumptions, the Company cannot assure readers that actual results, performance or achievements will be consistent with these forward-looking statements, and management's assumptions may prove to be incorrect. These forward-looking statements are made as of the date of this press release, and, other than as required by law, the Company does not intend, and does not assume any obligation, to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.


Additional Information relating to the Company is available on SEDAR at

ABOUT NORDEX EXPLOSIVES: LES EXPLOSIFS NORDEX LTEE./NORDEX EXPLOSIVES LTD. is a manufacturer and distributor of explosives for the mining, quarry and road construction industries since 1970. Its manufacturing operations and distribution centre is strategically located in one of the world's largest mining regions near Kirkland Lake, Ontario. Nordex trades on the TSX Venture Exchange under the symbol "NXX".

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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