Perlite Canada Inc.

Perlite Canada Inc.

September 30, 2010 10:46 ET

Perlite Canada Inc. Announces its Results for its Third Quarter of 2010

MONTREAL, QUEBEC--(Marketwire - Sept. 30, 2010) - Perlite Canada inc. (the «company»)(TSX VENTURE:PCI) announces hereby the results of its third quarter 2010.

The Company generated revenues of $ 1,670,977 during the third quarter ended July 31, 2010 (the "3rd Quarter 2010) compared to $1,947,906 as at July 31, 2009, being a decrease of approximately 14.2%. For the nine month period ended July 31, 2010, total sales were $5,595,440 compared to $5,632,818 for the same period in 2009, which represents similar revenues for both periods.

The Company recorded a loss before taxes of $170,124 during the 3rd Quarter 2010 compared to earnings before taxes of $38,018 for the third Quarter of 2009. For the nine month period ended July 31, 2010, the company generated a loss before taxes of $203,047 compared to a loss before taxes of $411,807 for the same period in 2009.

The Company generated a net loss of $121,167 as at July 31, 2010 compared to net earnings of $23,451 for the same period in 2009. For the nine month period ended July 31, 2010, the company posted a net loss of $132,798 compared to a net loss of $378,012 for the same period in 2009.

Management is still working to complete the integration put in place in November 2008 following the acquisition of the Lachine Plant in order to maximize the synergies and ensure the optimal use of the Company's resources.

Perlite Canada inc. specializes 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.

Certain statements in this news release may contain forward-looking statements. Such statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements to differ materially from those expressed in the forward-looking statements. Perlite Canada inc. does not assume responsibility for the accuracy and completeness of the forward-looking statements and do not undertake any obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.

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

Contact Information

  • Perlite Canada inc.
    Richard Barabe or Martin Joyal
    514-631-4254 (FAX)