CEMATRIX Corporation
TSX VENTURE : CVX

May 01, 2007 17:26 ET

CEMATRIX Corporation Announces Year End and Fourth Quarter Results

CALGARY, ALBERTA--(CCNMatthews - May 1, 2007) - CEMATRIX Corporation (TSX VENTURE:CVX) (the "Corporation") released it audited financial statements and related management discussion and analysis for the year ended December 31, 2006.

For the year ended December, 31, 2006 the Corporation reported a net loss of $767,000 compared to a net loss of ($530,000) in the year ended December 31, 2005.

For the fourth quarter ended December 31, 2006, the Corporation reported net income of $46,000 compared to a net loss of ($55,000) in the three months ended December 31, 2005.

Management reports that several projects that were scheduled to be completed in 2006 were delayed. Some of the delayed projects did commence in the fourth quarter ended December 31, 2006 which resulted in revenues for the quarter of $1,100,000 (an increase of 10.4%) as compared to $996,000 for the fourth quarter ended December 31, 2005.

As at December 31, 2006 the Corporation had working capital of $749,000 as compared to working capital deficiency of ($424,000) on December 31, 2005.

The Corporation has filed its audited financial statements and related management discussion and analysis for the year ended December 31, 2006 with the Canadian securities regulatory authorities on the System for Electronic Document Analysis and Retrieval ("SEDAR"). Copies of the financial statements and related management discussion and analysis for the year ended December 31, 2006 may be accessed electronically on SEDAR at www.sedar.com.

CEMATRIX is an Alberta corporation with its head office in Calgary, Alberta. The Corporation, through its wholly owned subsidiary, is a manufacturer and supplier of technologically advanced cellular concrete products with applications in a variety of markets, including oil and gas construction and infrastructure construction. Cellular concrete provides a cost and labour saving solution as a replacement for rigid and other insulting material in frost-susceptible or permafrost conditions. Cellular concrete is also used in void filling situation and as a replacement for granular fills and weak or unstable soils.

Forward-looking statements: Except for statements of historical fact, all statements in this news release, without limitation, regarding new projects, acquisitions, future plans and objectives are forward-looking statements which involved risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.

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

Contact Information

  • CEMATRIX Corporation
    Jeffrey Kendrick
    President and Chief Executive Officer
    (403) 219-0484