International Water-Guard Industries Inc.
TSX VENTURE : IWG

International Water-Guard Industries Inc.

December 14, 2006 09:30 ET

IWG Announces Fiscal 2006 Annual Results

BURNABY, BRITISH COLUMBIA--(CCNMatthews - Dec. 14, 2006) - International Water-Guard Industries Inc. (TSX VENTURE:IWG) is reporting revenue in fiscal 2006 of $3,662,460, an increase of 17% above the prior year's sales of $3,134,809. Fiscal 2006 net earnings of $404,545 compared to earnings from operations of $163,597 (before special items) in the prior year.

These results for FY2006 provided $0.012 net earnings per share compared to net earnings of $0.035 per share in the prior year including special items, on both a basic and fully diluted basis. FY2005 net earnings of $914,111 included special items of $750,514 from the sale of the company's industrial/commercial division assets and from the settlement of debts, less certain asset write-downs related to a move to a new manufacturing facility.

"This has been another successful growth year for IWG, bringing us up to eight profitable quarters in a row. It is especially noteworthy that in 2006 our revenue increase came after the divestiture of IWG's industrial division. Our actual aviation sales have increased by some 28%," said David Fox, IWG's President and CEO. "A number of accomplishments lie behind this success, including a long-term procurement agreement with Dassault Falcon Jet Corporation, and our certification to the AS 9100 quality standard. Both of those developments are also major building blocks in our long-term plan for continued growth."

International Water-Guard is a Canadian aerospace company focusing on aircraft potable water treatment and full water system solutions. IWG has expertise in all aspects of water treatment, and has the products and know-how to provide high quality water for passengers and crew, and light weight, space saving solutions for the aircraft operator.

On behalf of the Board of Directors

International Water-Guard Industries Inc.

David C. Fox, President and CEO

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

Contact Information

  • International Water-Guard Industries Inc.
    David Fox
    President and CEO
    (604) 255-5555 or 1-800-667-0331
    (604) 255-5685 (FAX)
    Website: www.water.aero