November 24, 2009 16:32 ET

Nordex Explosives Announces Third Quarter 2009 Results-Second Consecutive Quarter of Record Revenues

MISSISSAUGA, ONTARIO--(Marketwire - Nov. 24, 2009) -


LES EXPLOSIFS NORDEX LTEE./NORDEX EXPLOSIVES LTD. (TSX VENTURE:NXX) today announced financial results for its Third Quarter ended September 30, 2009.

Revenue for the Third Quarter ending September 30, 2009 was $2,394,163 compared to $1,694,927 for the comparative period in 2008 representing an increase of 41%. The Third Quarter is the second consecutive quarter of record sales for Nordex. Total Revenue for the first three quarters of 2009 was $5,805,889, and Management expects that by the end of the current fiscal year Revenue will exceed Nordex's previous highest Revenue of $7,064,272 achieved in 2007.

For the Third Quarter ending September 30, 2009, Nordex recorded a net income before taxes of $226,173 compared to the net loss before taxes of $105,196 for the comparative period in 2008.

Gross profit margin for the three month period ending September 30, 2009 increased to 26.2% compared to 20.1% for the same period in 2008.

Earnings per share increased to $0.025 during the Third Quarter compared to the loss per share of $0.015 during the comparative period in 2008.

John Kozak, President of Nordex Explosives stated "The increase in revenue was a result of continued strong sales to our mining clients and a significant increase in sales to our non-mining clients."

The Company's Financial Statements and Management Discussion & Analysis for the Third Quarter are available on SEDAR at


Certain information included herein may contain ''forward-looking statements'' which reflect the current expectations of management of the Company regarding the Company's future growth, results of operations, performance, business prospects and opportunities. Wherever possible, words such as "may", "would", "could", "should", "will", "anticipate", "believe", "plan", "expect", "intend", "estimate", "aim", "endeavor", "seek", "predict", "potential" and similar expressions have been used to identify these forward-looking statements. These statements reflect management's current beliefs with respect to future events and are based on information currently available to management of the Company. Forward-looking statements involve significant risks, uncertainties and assumptions. Many factors could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, without limitation, cancellations of or the failure to renew purchase orders; production and delivery issues; quality, pricing and availability of raw materials; compliance with environmental regulations; exchange rate fluctuations as well as the other risks identified in the "Risk Factors" contained in the Company's Management Discussion and Analysis for the Third Quarter and other public filings (copies of which may be obtained at Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by this press release. These factors should be considered carefully and the reader should not place undue reliance on the forward-looking statements. Although any forward-looking statements contained in this press release are based upon what management currently believes to be reasonable assumptions, the Company cannot assure readers that actual results, performance or achievements will be consistent with these forward-looking statements, and management's assumptions may prove to be incorrect. These forward-looking statements are made as of the date of this press release, and, other than as required by law, the Company does not intend, and does not assume any obligation, to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.


Additional Information relating to the Company is available on SEDAR at


LES EXPLOSIFS NORDEX LTEE./NORDEX EXPLOSIVES LTD. is a manufacturer and distributor of explosives for the mining, quarry and road construction industries since 1970. Its manufacturing operations and distribution centre is strategically located in one of the world's largest mining regions near Kirkland Lake, Ontario. Nordex trades on the TSX Venture Exchange under the symbol "NXX".

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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