Radiant Energy Corporation
TSX VENTURE : RDT

Radiant Energy Corporation

September 23, 2009 17:15 ET

Radiant Energy Corporation Announces Third Quarter 2009 Results

TORONTO, ONTARIO--(Marketwire - Sept. 23, 2009) - Radiant Energy Corporation("Radiant" or the "Company") (TSX VENTURE:RDT) (amounts in U.S. dollars), the developer and marketer of radiant aircraft de-icing systems, announced its results for the three and nine-months ended July 31, 2009, which are also available on SEDAR.

The Company reported a loss of $463,751, or $0.00 per share for the three months ended July 31, 2009 compared with a loss of $769,758, or $0.00 per share for the three months ended July 31, 2008. The loss from continuing operations of $373,183 for the three-month period was $365,420 lower than a loss from continuing operations of $738,603 for the prior year. The Company's Norwegian operations have been reported as a discontinued operation in the consolidated financial statements following a decision during 2008 to end operations in Norway.

A loss of $1,616,577, or $0.01 per share was reported for the nine-months ended July 31, 2009 compared with a loss of $4,590,299, or $0.03 per share for the nine-months ended July 31, 2008. The loss from continuing operations of $1,493,896 for the nine-month period was $1,323,875 lower than a loss from continuing operations of $2,817,771 for the prior year. Revenue for the nine-month period of $431,948 was a 60% increase from $270,760 reported in the prior year with more de-icing days in the current year.

On September 8, 2009, The TSX Venture Exchange granted final approval of the Company's previously announced offering of secured debentures, for which closings were announced on August 7, 2009 and August 19, 2009.

About Radiant Energy Corporation

Radiant is the developer and marketer of Radiant Deicing Systems. The Company's product is the only non-glycol based alternative approved by the US Federal Aviation Administration for the pre-flight ground deicing of aircraft. Aircraft deicing with Radiant's technology offers savings to airports and airlines over the use of conventional glycol-based deicing systems, reducing aircraft treatment costs and significantly reducing the negative impact of glycol on the environment.

This press release contains "forward-looking statements", including statements regarding the business and anticipated financial performance of Radiant Energy Corporation, which involve risks and uncertainties. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements, regarding financial and business prospects and financial outlook) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks, uncertainties and assumptions that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, changes in general economic and market conditions, changes to regulations affecting the Company's activities, and uncertainties relating to the availability and costs of financing needed in the future. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

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

Contact Information

  • Radiant Energy Corporation
    David Williams
    President and Chairman
    416.922.8778