Broadview Press Inc.

Broadview Press Inc.

November 26, 2007 16:27 ET

Broadview Press: Gains Diminished by Strong Canadian Dollar

Third Quarter Results at September 30, 2007

CALGARY, ALBERTA--(Marketwire - Nov. 26, 2007) -

(All figures are in Canadian dollars unless otherwise stated.)

Broadview Press (TSX VENTURE:BDP) Positive trends in the quarter and year-to-date seen in higher sales, lower operating expenses, and higher net revenue for Q3 were tarnished due to a surging Canadian dollar. Operating expenses as a percentage of net revenue decreased both in the quarter and for 9 months (3 mos: 30% vs. 37%; 9 mos: 62% vs. 67%), while net income before foreign exchange loss of $304,049 for the quarter increased to 15% of net revenue from 12% last year when net revenue was $236,453. Net sales in the quarter increased 2% compared to Q3-2006. Year-to-date net sales were up 7% over last year.

During the quarter the Canadian dollar appreciated 6.5% against the US dollar and for the first nine months the Canadian dollar appreciated 17%. Year-to-date foreign exchange loss was $86,442 compared to $13,023 last year. Of the total foreign exchange loss $52,715 occurred in Q3. A little less than half of Broadview's sales are in the US.

Broadview's quarterly financial statements, as well as its management discussion and analysis of these results, can be read by visiting Broadview Press is a Canadian-based publisher of books aimed at the higher education textbook market.

Forward-Looking Statements:

This document contains forward-looking statements involving Broadview's expectations about future financial results and other matters. These statements reflect management's current forecast of certain aspects of Broadview's future business. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from historical results or current expectations. The words "plan," "expect," "believe," "intent," "anticipate," "forecast," "target," "estimate," "should," "will" and similar expressions identify forward-looking statements. Risk factors include shifts in consumer demand, product schedules, product mix, competitive products and pricing, technological shifts, foreign exchange changes and other variables. Readers are referred to Broadview's other public documents for further discussions of risks and uncertainties. The factors underlying forecasts are dynamic and subject to change. As a result, forecasts speak only as of the date they are given and do not necessarily reflect Broadview's outlook at any other point in time.

Closing Share Price: $0.125 (at September 30, 2007)

Shares issued: 12,111,107 (at September 30, 2007)

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

Contact Information

  • Broadview Press
    Michael Harrison
    President and CEO
    (519) 837-0915
    Broadview Press
    Fraser Seely
    Chief Operating Officer
    (403) 232-6863