Perlite Canada Inc.
TSX VENTURE : PCI

Perlite Canada Inc.

September 29, 2011 16:23 ET

Perlite Canada Inc. Announces Its Results for Its Third Quarter of 2011

MONTREAL, QUEBEC--(Marketwire - Sept. 29, 2011) - Perlite Canada inc. (TSX VENTURE:PCI)(the «company») announces hereby the results of its third quarter 2011.

The Company generated revenues of $1,601,043 during the third quarter ended July 31, 2011 (the "3rd Quarter 2011) compared to $1,670,977 as at July 31, 2010, being a decrease of approximately 4.2%. For the nine month period ended July 31, 2011, total sales were $5,389,949 compared to $5,595,441 for the same period in 2010, which represents a decrease of approximately 4%. This decrease is mainly attributable to the decrease of vermiculite sales during the spring 2011 due to delays with our vermiculite delivery by our main supplier.

The Company recorded a loss before taxes of $89,805 during the 3rd Quarter 2011 compared to a loss before taxes of $170,124 for the third Quarter of 2010. For the nine month period ended July 31, 2011 the company generated a loss before taxes of $61,375 compared to a loss before taxes of $203,047 for the same period in 2010 and a loss before taxes of $411,807 for the same period in 2009.

The Company generated a net loss of $61,307 during the 3rd Quarter 2011 compared to net loss of $121,167 for the same period in 2010. For the nine month period ended July 31, 2011, the company posted a net loss of $41 646 compared to a net loss of $132,798 for the same period in 2010 and a net loss of $378,012 for the same period in 2009.

Management is still working to complete the rationalisation plan put in place 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
    (514) 631-4251
    (514) 631-4254 (FAX)

    Perlite Canada inc.
    Martin Joyal
    (514) 631-4251
    (514) 631-4254 (FAX)