MONTREAL, QUEBEC–(Marketwired – Sept. 28, 2017) – Perlite Canada inc. (the «Corporation») (TSX VENTURE:PCI) announces hereby its results for the third quarter 2017 ending on July 31, 2017.
The Corporation generated revenues of $ 1,743,224 during the third quarter ended July 31, 2017 (the “3rd Quarter 2017″) compared to $ 1,748,845 as at July 31, 2016, which represents a similar sales volume. For the nine month period ending on July 31, 2017, total sales were $6,280,859 compared to $5,475,625 for the same period in 2016, being an increase of approximately 15%.
The Corporation recorded earnings before income taxes of $295,735 during the 3rd Quarter 2017 compared to earnings before income taxes of $434,611 for the 3rd Quarter of 2016. It has to be noted however that during the third quarter of 2016, the Corporation recorded a gain of $388,029 following a claim settlement with a former vermiculite supplier. Without taking into account this gain on settlement, the Corporation would have recorded earnings of $46,582 for the third quarter of 2016. For the nine month period ending on July 31, 2017, the Corporation registered earnings before taxes of $998,939 compared to earnings of $673,646 for the nine month period ended July 31, 2016. Without taking into account the gain on settlement of $388,029 mentioned above, the Corporation would have recorded earnings of $285 617 during this period in 2016.
The increase of the earnings before taxes is mainly explained by the increase of sales of vermiculite products and the increase of the Canadian dollar compare with the US currency during this period.
Perlite Canada inc. has become a leading Corporation 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 Corporation may be notably different of future returns or results expressed or implied by these forward-looking statements.
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