MONTREAL, QUEBEC--(Marketwire - Feb. 28, 2013) - Perlite Canada inc. (TSX VENTURE:PCI) (the «Company») announces hereby the results for the year ended October 31, 2012 ("Fiscal Year 2012").
The Company generated sales of $5,828,485 during Fiscal Year 2012 comparatively to $6,529,531 during Fiscal Year 2011, namely an 11 % sales decrease.
The Company recorded a loss before income taxes of $596,051 for Fiscal Year 2012 comparatively to a loss before income taxes of $667,694 for Fiscal Year 2011, a decrease of approximately 11 %.
The Fiscal Year 2012 has been perturbed by a peat shortage in the horticultural market caused by bad weather and rainfalls that occurred during year 2011. The significant raise in raw vermiculite prices during the two last years had also a negative impact on the vermiculite product sales. However, the consolidation and rationalization efforts made by the Company allowed the Company to decrease the loss before income taxes notwithstanding the decrease in the Company's revenues. The improvement of the Company's profitability will be the priority for Management for the next fiscal year.
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.
This press release contains forward-looking statements to which are associated some risks and uncertainties. Any statement contained in this present press release that does not constitute an historical fact can be considered as a forward-looking statement. In this present press release, verbs such as "believe", "anticipate", "assess" and other similar expressions indicate generally forward-looking statements. Those statements do not warrant as for the future performance of Perlite Canada inc. and they suppose known and unknown risks as well as uncertainties in such a way that true future perspectives, returns or results of the Company may be notably different of future returns or results expressed or implied by these forward-looking statements.
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