Enablence Technologies Inc.

Enablence Technologies Inc.

December 13, 2006 17:00 ET

Enablence Technologies Inc. Announces Second Quarter Results for Fiscal Year 2007

OTTAWA, ONTARIO--(CCNMatthews - Dec. 13, 2006) - Enablence Technologies Inc.(TSX VENTURE:ENA) ("Enablence Technologies" or the "Company") today announced financial results for the second quarter of fiscal 2007, ended October 31, 2006.

The net loss for the quarter ended October 31, 2006 was $1,091,128, down 61% from $2,829,598 for the quarter ended July 31, 2006.

The loss per share for the same period was $0.01, down 80% from a $0.05 loss per share for the quarter ended July 31, 2006. Cash and cash equivalents totaled $10,855,322 as at October 31, 2006, down from $12,385,909 as at July 31, 2006.

"Enablence has made significant progress in its commercialization of dispersion bridge technology for the fiber-to-the-home business during the quarter ended October 31, 2006," said Arvind Chhatbar, Chief Executive Officer, Enablence. "This quarter our staff and contract manufacturing partners have brought together the tools and processes necessary to meet our product availability targets for 2007. We are confident that we will generate revenues in the next quarter as we deliver samples with anticipation of volume sales later in 2007."

In conjunction with the completion of this successful quarter, the Board of Directors has granted options to employees and consultants to acquire a total of 3,000,000 shares of the Company. These were granted to certain directors and officers (2,550,000 options) and employees (450,000 options). Twenty-five percent of the stock options vested immediately while the balance vests over the next year. The stock options have an exercise price of $0.50 per share, exercisable on or before December 11, 2016. After these grants, 8,917,000 common shares remain available for issuance under the Company's stock option plan.

About Enablence Technologies Inc.

Enablence Technologies products are used in optical modems that are located inside the consumer's homes (i.e. for the delivery of high speed data/voice/video). Enablence Technologies designs and manufactures optical components, in particular triplexers and diplexers, using its proprietary Planar Lightwave Circuit (PLC) "dispersion bridge" platform, for the Fiber-to-the-Home (FTTH) market. These devices are filters that are embedded on a chip that are capable of processing optical signals at a low cost.

Enablence Technologies is a fabless optical components company.

Forward Looking Statements

The statements in this press release may contain forward looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Corporation's expectations and projections. The TSX Venture Exchange has not approved this press release and does not accept responsibility for the adequacy or accuracy of this press release.

Contact Information

  • Enablence Technologies Inc.
    Arvind Chhatbar
    Chairman and Chief Executive Officer