Perlite Canada Inc.

Perlite Canada Inc.

March 31, 2011 16:30 ET

Perlite Canada Inc. Announces its Results for the First Quarter of 2011

MONTREAL, QUEBEC--(Marketwire - March 31, 2011) - Perlite Canada inc. (the «Company»)(TSX VENTURE:PCI)announces hereby the results for its first quarter 2011 ended on January 31, 2011 (the "1st Quarter 2011").

The Company's sales totals $1,600,402 for the 1st Quarter 2011 compared to $1,608,171 for the first quarter of the fiscal year 2010.

The Company posted a net loss of $23 290 during the 1st Quarter 2011 compared to a net loss of $66,334 for the first quarter of the fiscal year 2010.

The fact that the Company maintained an amount of sales during the 1st Quarter 2011 similar to the amount of sales for the same period in 2010 shows that the Company succeeded with the transfer of processing operations from the Baie-du-Febvre plant, which closed in march 2010, to the Lachine and Saint-Pâcome plants.

The loss decrease is mainly explained by the consolidation and rationalization plan initiated by the Management of the Company during fiscal year 2010, including among others, the shutdown of Baie-du-Febvre plant. Management of the Company intends to pursue and complete this consolidation and rationalization plan during fiscal year 2011.

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.

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

Contact Information

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