EDMONTON, ALBERTA--(Marketwired - Nov. 13, 2013) - November 13, 2013 - Ceapro Inc. (TSX VENTURE:CZO) ("Ceapro" or the Company") today released its financial results for the three-month and nine-month periods ended September 30, 2013.
FINANCIAL RESULTS FOR THE THIRD QUARTER AND THE FIRST NINE MONTHS ENDED SEPTEMBER 30, 2013
"We are very pleased with our 2013 year to date results showing an increase of revenues of $1,059,000 or 26.7% compared to the first nine months of 2012 and showing a net profit of $280,000 compared to a net loss of $301,000 for the same period in 2012" said Gilles Gagnon, President and CEO. " This result, which includes the two highest quarterly revenues in Ceapro's history, is even more impressive considering they were achieved during a year where we are building a new facility which requires significant investment and resources" he added.
The complete financial statements are available for review on SEDAR at http://sedar.com/Ceapro and on the Company's website at www.ceapro.com .
About Ceapro Inc.
Ceapro Inc. is a Canadian growth-stage biotechnology company. Primary business activities relate to the development and commercialization of active ingredients for personal care and cosmetic industries using proprietary technology and natural, renewable resources. To learn more about Ceapro, visit www.ceapro.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CEAPRO INC.
Consolidated Statements of Net Income (Loss) and Comprehensive Income (Loss)
Unaudited
Quarters Ended September 30, |
Nine Months Ended September 30, |
||||||||
2013 | 2012 | 2013 | 2012 | ||||||
$ | $ | $ | $ | ||||||
Revenue | 1,997,398 | 1,283,167 | 5,021,999 | 3,962,811 | |||||
Cost of goods sold | 1,155,535 | 609,261 | 2,551,124 | 1,947,172 | |||||
Gross margin | 841,863 | 673,906 | 2,470,875 | 2,015,639 | |||||
Research and product development | 203,191 | 297,087 | 567,640 | 726,701 | |||||
General and administration | 393,163 | 431,064 | 1,266,149 | 1,312,557 | |||||
Sales and marketing | 4,850 | 32,649 | 73,773 | 159,083 | |||||
Finance costs (note 12) | 42,361 | 27,172 | 117,004 | 81,834 | |||||
Income (loss) from operations | 198,298 | (114,066 | ) | 446,309 | (264,536 | ) | |||
Other operating loss (note 11) | (75,115 | ) | (22,494 | ) | (166,670 | ) | (36,086 | ) | |
Net income (loss) for the period | 123,183 | (136,560 | ) | 279,639 | (300,622 | ) | |||
Other comprehensive loss | |||||||||
Actuarial loss on employee future benefit obligation (note 7) | - | - | (16,916 | ) | - | ||||
Total comprehensive income (loss) for the period | 123,183 | (136,560 | ) | 262,723 | (300,622 | ) | |||
Net income (loss) per common share (note 18): | |||||||||
Basic | 0.002 | (0.00 | ) | 0.005 | (0.00 | ) | |||
Diluted | 0.00 | (0.00 | ) | 0.00 | (0.00 | ) | |||
Weighted average number of common shares outstanding | 60,278,948 | 60,278,948 | 60,278,948 | 60,278,948 |
Contact Information: