Perlite Canada Inc.

Perlite Canada Inc.

February 28, 2008 12:27 ET

Perlite Canada Inc. Announces its Results for Fiscal Year 2006-2007

MONTREAL, QUEBEC--(Marketwire - Feb. 28, 2008) - Perlite Canada inc. (TSX VENTURE:PCI) (the "company") announces hereby the results for the year ended October 31, 2007.

Corporate sales for fiscal year 2006-2007 were $4,719,354, compared to $4,931,945 for the fiscal year 2005-2006. This decrease of 4% is explained mainly by a sale decrease for New Brunswick initiated during fiscal year 2006 and continued in 2007. Actually, sales in New Brunswick for fiscal year 2007 amounted to $118,427 compared to $960,003 for fiscal year 2006. The Company was successful in making up for the sales decrease in New Brunswick by increasing sales in Quebec and in Ontario. Indeed, sales for Quebec and Ontario totalized $4,600,927 compared to $3,971,942 for fiscal year 2006, an increase of 16%.

Concerning the earnings before taxes, from $713,444 in 2006 they went to $226,783 in 2007. This decrease in earnings can be explained mainly by the slight decrease in sales mentioned earlier as well as by a reduction of the gross margin caused by higher production costs related to the rise of oil products and to raw perlite processing. The basic earnings per common share decreased going from $.05 for fiscal year 2006 to $.02 for the year ended October 31, 2007.

Perlite Canada Inc. has become a leading company in Canada in the processing, distribution and sale of perlite and vermiculite, two minerals used in industry and horticulture.

The common shares of Perlite Canada inc. are listed for trading on the TSX Venture Exchange.

The TSX Venture Exchange is not responsible for the truth or accuracy of this press release.

Contact Information

  • Perlite Canada Inc.
    Richard Barabe
    514-336-6665 / 984-9798
    514-336-6651 (FAX)