Perlite Canada Inc.
TSX VENTURE : PCI

Perlite Canada Inc.

September 29, 2009 10:47 ET

Perlite Canada Inc. Announces Its Results for Its Third Quarter of 2009

MONTREAL, QUEBEC--(Marketwire - Sept. 29, 2009) - Perlite Canada inc. (the "company")(TSX VENTURE:PCI) announces hereby the results of its third quarter 2009.

The Company generated revenues of $1,947,906 during the third quarter ended July 31, 2009 (the "3rd Quarter 2009) compared to $950,131 as at July 31, 2008, being an increase of approximately 105%. For the nine month period ended July 31, 2009, total sales were $5,632,818 compared to $2,922,596 for the same period in 2008, which represent an increase of approximately 93%. This increase is principally attributable to the acquisition of the Lachine Plant in November 2008.

The Company recorded an income before taxes of $38,018 during the 3rd Quarter 2009 compared to a loss before taxes of $151,965 for the third quarter of 2008. For the nine month period ended July 31, 2009, the company generated a loss before taxes of $411,807 compared to a loss before taxes of $314,143 for the same period in 2008.

The Company generated a net loss of $23,451 as at July 31, 2009 compared to a net loss of $103,306 for the same period in 2008. This net loss for the 3rd Quarter 2009 is explained by a future income taxes provision of $71,353. For the nine month period ended July 31, 2009 the Company posted a net loss of $378,012 compared to a net loss of $213,997 for the same period in 2008.

The management will work to complete the integration of the Lachine Plant to its activities in order to maximize the synergies and ensure the optimal use of the Company's resources.

Perlite Canada inc. specializes 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.

Certain statements in this news release may contain forward-looking statements. Such statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements to differ materially from those expressed in the forward-looking statements. Perlite Canada inc. does not assume responsibility for the accuracy and completeness of the forward-looking statements and do not undertake any obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.

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

Contact Information

  • Perlite Canada inc.
    Richard Barabe or Martin Joyal
    514-336-6665
    514-336-6651