Perlite Canada Inc.

Perlite Canada Inc.

October 01, 2007 10:34 ET

Perlite Canada inc. Announces its Results for its Third Quarter of 2007

MONTREAL, QUEBEC--(Marketwire - Oct. 1, 2007) - Perlite Canada inc. (TSX VENTURE:PCI) (the "company") announces hereby the results of its third quarter 2007 ended on July 31st, 2007.

For the third quarter, the Company's sales totalized $1,162,310 with a loss before-tax of ($47,488) compared to sales of $978,281 and a before-tax income of $80,633 as at July 31st, 2006. The sales increase for the quarter (19%) is attributable, in major part, to the construction of two perlite transformation units for one of our important client. The loss before taxes can be mainly explained by a diminution of the gross margin going from 29% as at July 31st, 2006 to 23% as at July 31st, 2007 and the devaluation of the New-Brunswick building for an amount of $81,420. Since July 31st, 2007, the production improved.

For the nine months period of 2007, sales were $3,777,395 compared to $3,748,734 for the nine months period of 2006. The before-tax income for the nine months period was $154,143 compared to $435,542 for the 2006 nine months period. This decrease is due to the elements mentioned before and a R&D expenses and unusual administration fees. The gross margin as at July 31st, 2007 was 26% compared to 27% as at July 31st, 2006. The company carries on with the raw perlite development in the North America's market.

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.

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
    514-336-6665 / 984-9798
    514-336-6651 (FAX)