MONTREAL, March 28, 2018 (GLOBE NEWSWIRE) -- Perlite Canada inc. (the «Corporation») (TSX VENTURE:PCI) announces hereby the results for its first quarter 2018 ended on January 31, 2018 (the “1st Quarter 2018”).
The Corporation generated revenues of $2,300,673 during the 1st Quarter 2018 compared to $2,183,622 during the first quarter ended January 31st, 2017, an increase of approximately 6 %.
The Corporation recorded a profit before income taxes of $288,475 for the 1st Quarter 2018 compared to a profit before income taxes of $293,243 for the 1st quarter of 2017.
The Corporation generated net earnings of $184,475 for the 1st Quarter 2018 compared to a net earnings of $293,243 for the first quarter ended on January 31st, 2017. The difference between net earnings for the 1st Quarter 2018 and net earnings for the 1st quarter 2017 is explained by the income taxes amount of $104,000 payable for the 1st Quarter 2018 while the Corporation had deferred losses in 2017 and did not have income taxes to pay.
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION, CONTACT:
Perlite Canada inc.
Richard Barabé
(514) 631-4251
(514) 631-4254 (Fax)