MONTREAL, QUEBEC--(Marketwired - Feb. 21, 2014) - Perlite Canada inc. (TSX VENTURE:PCI) (the «Corporation») announces hereby the results for the year ended October 31, 2013 ("Fiscal Year 2013").
The highlight of Fiscal Year 2013 is the return to profitability for the Corporation. This performance has been achieved as a result of the rationalization plan implemented during fiscal year 2012, of a good management of our raw margins and of a good performance from our operating units.
The Corporation generated sales of $5,714,740 during Fiscal Year 2013 comparatively to $5,828,485 during fiscal year 2012. During fiscal year 2013, the Corporation recorded earnings before income taxes and net earnings of $138,187 comparatively to losses before income taxes and net lossesof $596,051 during fiscal year 2012.
Management's objective for the next fiscal year is reducing the Corporation's debt and maintaining profitability. Management will focus its efforts on good management of gross margins, on control of operating expenses and on performance optimization for Lachine and Saint-Pacôme plants.
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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