Luxell Technologies Inc.
TSX : LUX

Luxell Technologies Inc.

January 12, 2006 14:08 ET

Luxell Reports First Quarter Fiscal 2006 Financial Results

TORONTO, ONTARIO--(CCNMatthews - Jan. 12, 2006) - Luxell Technologies Inc. (TSX:LUX) today announced that revenues for the three months ended November 30, 2005 were $293,980 compared with $875,208 for the three months ended November 30, 2004. The net loss for the quarter was $2,052,420 (($0.05) per share) compared to a loss of $1,816,851 (($0.05) per share) for the three months ended November 30, 2004.

During the first quarter of fiscal 2006 the Company completed customer qualification on two long-term development programmes. As these development programmes transition to fully qualified production programmes, revenues and profitability will be enhanced significantly. In addition the Company completed a tax-structured transaction that resulted in an investment of new equity in the Company of $5 million. The backlog continues to grow as the Company positions itself as a niche player in the FPD industry.

The Company's first quarter financial statements are posted at www.sedar.com.

John MacDonald, Luxell's Chairman commented on the results, " Successful companies make money; the new Board is committed to executing a plan that will make Luxell a successful company. We qualified and booked two programmes during the first quarter that will represent approximately one-half of our projected fiscal year 2006 revenues. The work accomplished in the first quarter of building the order book, like the recent financing are indicators that Luxell will succeed."

About Luxell

Luxell designs, manufactures and licenses flat panel display technologies and solutions for defence and avionics industries through its newly created operating divisions Aktelux and Luxell Research. More information can be found at www.luxell.com, www.aktelux.com and www.luxellresearch.com.

(C) Luxell Technologies Inc., Luxell and Black Layer are trademarks of Luxell Technologies Inc. All other company and/or product names are trademarks and/or registered trademarks of their respective manufacturers.

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