Winalta Inc.
TSX VENTURE : WTA.A

Winalta Inc.

September 28, 2007 15:56 ET

Winalta Inc. Releases 3rd Quarter Financial Results

EDMONTON, ALBERTA--(Marketwire - Sept. 28, 2007) - After two quarters under new leadership, Winalta's (TSX VENTURE:WTA.A) third quarter results reflect the strengthening of the turnaround to profitability as increasing cash flows from new initiatives continue to be realized. Third quarter revenues reflect substantially improved margins on profitable product lines together with the added income from the oilfield rental and construction operations.

The Company reports net earnings of $1,693,000 for the three months ended July 31, 2007 on revenues of $23.6 million. For the nine months ended July 31, 2007 the Company reports net earnings of $1,093,000 on revenues of $58.5 million compared to a loss of $1,191,000 on revenues of $59.1 million for the nine month period ended July 31, 2006.

Strategic community development locations, continuing demand for the Company's manufactured home products, and growth through strategic acquisitions in the oilfield rental and construction divisions will ensure increasing future profitability.

Additional information and Management's Discussion and Analysis are available on SEDAR (www.sedar.com).

Winalta Inc. and through its subsidiaries, is a land developer in western Canada as well as a producer of manufactured and modular CSA certified homes and site built homes. In addition, it manufactures and rents industrial trailers and camps.

Winalta Inc. shares trade on the TSX Venture Exchange under the symbol "WTA.A.".

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

Contact Information

  • Winalta Inc.
    Ray Hawrelak
    Chief Financial Officer
    (780) 960-6900