Carmanah Technologies Corporation (TSX Venture: CMH) announced its financial results for the three and six months ended June 30, 2005 and 2004.
Highlights for the Quarter:
– Record Q2 2005 revenues of $6,542,507, representing an 87% increase over Q2 2004;
– 2005 year-to-date revenues at record $11,392,049, representing a 50% increase over the same six-month period in 2004;
– Sales order backlog of $1.64 million at close of quarter;
– Net income for the quarter of $387,217 (6% of sales) as compared to a net loss of $156,189 in 2004;
– Year-to-date net earnings of $650,639 (6% of sales) as compared to $213,303 (3% of sales) in 2004.
Says Carmanah’s CEO, Art Aylesworth, “All vertical markets are contributing significantly to the Company’s revenues. In particular, we are seeing a breakout year in the sales of our transit shelter and bus stop lighting products with more than $1.8 million in sales in Q2 2005 alone.”
These results do not include revenues from the Company’s acquisition of Soltek Powersource Ltd. which closed effective July 1, 2005. This will be reflected in the Company’s third quarter results.
The full version of the financial statements is available at:
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