Full News Release
Selectcore earns $343,290 in Q1 2011
2011-06-21 06:24 ET - News Release
Mr. Keith McKenzie reports
SELECTCORE ANNOUNCES RECORD FINANCIAL RESULTS FOR Q1, 2011
Selectcore Ltd. has released its financial results for the first quarter ended March 31, 2011.
Financial highlights compared with the same period in 2010:
Revenues increased 1.3% to $21 million;
Gross Profit increased 107% to $2.25 million;
Gross Margins increased 104% to 10.7%;
Adjusted EBITDA increased 11,500% to $1.1 million.
Revenues of $20,987,393 for the first quarter 2011 represented an increase of 1.3% as compared to $20,726,395 in the same period 2010. Gross profit of $2,247,092 for the first quarter 2011 represented an increase of 107% as compared to $1,086,575 in the same period 2010. Gross margins of 10.7% for the first quarter 2011 represented an increase of 104% from 5.2% in the same period 2010. Net profit for the first quarter 2011 was $343,290 or
.0032 per share compared to a net loss of $737,450 in the same period 2010. Adjusted EBITDA for the first quarter 2011 was $1,111,106, an increase of 11,500% as compared to $9,562 in the same period 2010.