MONTREAL, QUEBEC--(Marketwired - March 1, 2017) - Perlite Canada inc. (the «Corporation») (TSX VENTURE:PCI) announces hereby the results for the year ended October 31, 2016 ("Fiscal Year 2016").
The Corporation generated sales of $7,206,771 during fiscal year 2016 compared to $6,066,213 during fiscal year 2015, being an increased by approximately 19 %.
The Corporation recorded earnings before income taxes of 908,873 $ during the Fiscal Year 2016 compared to a loss before income taxes of $115,624 for the Fiscal Year 2015 and net earnings of $810,811 for the Fiscal Year 2016 compared to a net loss of $115,624 for fiscal year 2015.
Furthermore, the long-term debt of the Corporation is repaid in full.
The management is therefore pleased to report that it achieved the targets set for the Fiscal Year 2016 being reducing the Corporation's long-term debt and restoring profitability.
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.
The TSX Venture Exchange is not responsible for the truth or accuracy of this press release.
Contact Information:
Richard Barabe
(514) 631-4251
(514) 631-4254 (FAX)