Perlite Canada Inc.
TSX VENTURE : PCI

Perlite Canada Inc.

April 01, 2016 18:54 ET

Perlite Canada Inc. Announces Its Results for for the First Quarter of 2016

MONTREAL, QUEBEC--(Marketwired - April 1, 2016) - Perlite Canada inc. (the «Company») (TSX VENTURE:PCI) announces hereby the results for its first quarter 2016 ended on January 31, 2016 (the "1st Quarter 2016").

The Corporation generated revenues of $1,719,745 during the 1st Quarter 2016 compared to $1,391,583 during the first quarter ended January 31, 2015, an increase of approximately 23.5%.

The Corporation recorded a loss before taxes and a net loss of $ 75,881 for the 1st Quarter 2016 compared to a loss before taxes and a net loss of $111,549 for the 1st quarter of 2016.

The loss recorded during the quarter 2016 is mainly explained by the increase in manufacturing costs primarily due to the decrease of the Canadian dollar compared to the American dollar. The Corporation was not able to adjust the selling prices of its finished products in order to face this increase of the American dollar. The Corporation adjusted its selling prices to rise in the second quarter of the current Fiscal Year 2016 and this increase should be reflected during the next quarters if the American currency stays stable compared to the Canadian dollar. Management's objectives for the next fiscal year 2016 are reducing the Corporation's long term debt and restoring profitability.

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.

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

Contact Information

  • Perlite Canada inc.
    Richard Barabe
    (514) 631-4251
    (514) 631-4254 (FAX)