April 24, 2007 09:00 ET

Nordex Explosives Announces Annual and Fourth Quarter 2006 Results-2006 Earnings per Share Increases by 37.5%

MISSISSAUGA, ONTARIO--(CCNMatthews - April 24, 2007) -


LES EXPLOSIFS NORDEX LTEE./NORDEX EXPOSIVES LTD. (TSX VENTURE:NXX) today announced financial results for the year ending and fourth quarter ending December 31, 2006.

Revenue for the year ending December 31, 2006 increased by 32.2 % to $4,857,953 compared to $3,674,883 in 2005. 2006 is the fifth consecutive year of increased revenues for Nordex Explosives. Net income before taxes in 2006 increased by 33.0% to $309,221 compared to $232,570 in 2005. Earnings per share in 2006 increased by 37.5% to $0.055 per share compared to $0.040 per share in 2005.

The quarter ending December 31, 2006 is the thirteenth consecutive quarter that revenue has increased over the same quarter in the previous year. Revenue for this quarter increased by 28.4% to $1,345,778 compared to $1,048,127 for the same period in 2005. For the fourth quarter in 2006, net income before taxes decreased by 14.4% to $92,216 compared to $107,707 for the fourth quarter in 2005.

The audited financial statements and the management discussion & analysis for the year and quarter are available on SEDAR at

Forward-Looking Statements

This press release contains forward-looking statements based on current expectations. These forward-looking statements contain various risks and uncertainties which could cause actual results to differ materially from those reflected in the forward-looking statements. Risks and uncertainties about the Company's business are more fully disclosed in the disclosure materials, financial statements and MD& A filed with the securities regulatory authorities in Canada on

ABOUT NORDEX EXPLOSIVES: LES EXPLOSIFS NORDEX LTEE./NORDEX EXPLOSIVES LTD. (TSX VENTURE:NXX) is a developer, manufacturer and distributor of explosives for the mining, quarry and road construction industries. Founded in 1970, its manufacturing operations and distribution centre is strategically located in one of the world's largest mining regions near Kirkland Lake, Ontario.

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

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