SOURCE: Luminart


May 02, 2012 07:30 ET

Luminart Corp. [Lump.Pk] Posts Record Earnings in First Quarter Report

STANLEY, ND--(Marketwire - May 2, 2012) - Luminart Corp. (PINKSHEETS: LUMP) released their first quarter unaudited financial report reflecting a record 2.1 million in generated revenue which represents a 55% increase from the 2011 4th quarter revenues reported earlier this year. Gross earnings increased by 63% and Annualized EPS grew in the 1st quarter from $0.0034 at the close of last quarter to $0.0243. Company net earnings came in at $196K, which is up 81% from last quarter.

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"Our 1st quarter earnings were a reflection of our commitment to our shareholders and a dedicated North Dakota team operating in well below zero weather for a lot of the time; along with the fact that it's typically the slowest point of the season for us. The speed at which our company is developing continues to encourage us all. Doors are continuing to open and it's a tribute to the quality service that we've been providing in our North Dakota operations," said Luminart president Burke Bentley. "The relationships that have been developed over the last year have really launched the company to the next level and provide our shareholders with a reliable and consistent base for continuous growth and profitability."

About Luminart Corp. and B 3 Well Services subsidiary:
Luminart Corp.'s subsidiary B 3 Well Services is focused on the expansion of contract hauling materials for infrastructure development in North Dakota, mining and processing materials for road building, and expansion of the base camps in the North Dakota operations, sales and marketing. Led by a skilled and experienced management team, the timely entrance to this quickly developing opportunity in the Bakken oil reserves has positioned the company to create more value for its shareholders and secure a strategic position for increased market share in the future.

Forward-Looking Statements
This press release may contain forward-looking statements, including, but not limited to, statements regarding Luminart Corp. and their plans, products and related market potential. Forward-looking statements may be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential" or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in Luminart Corp.'s filings with the Pink Sheets, which factors are incorporated herein by reference. Readers are cautioned not to place undue reliance on any of these forward-looking statements. Luminart Corp. undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes.

Contact Information

  • For more Information contact:
    Investor Relations:
    William A. Broad
    Phone: (801) 458-4692
    Email: Email Contact