Raydan Manufacturing Inc Reports Results for Q1 2012
October 30 2011 - 10:12PM
PR Newswire (Canada)
EDMONTON, Oct. 31, 2011 /CNW/ - Raydan Manufacturing Inc, the
"Company", has provided financial results for the three month
period ended July 31, 2011 or Q1 2012. The Company recorded a net
loss of $262,194 in the period (includes net income of $1,058 from
discontinued operations) vs a loss in the prior comparative period
of $49,724 (includes net income of $55,790 from discontinued
operations). Sales in the period were $2,340,621 vs $2,222,903 in
the prior comparative period. However, gross profit margins were
significantly lower in the period at 15.7% vs 24.1% in the prior
comparative period. Mr. Ray English, CEO, commented "We are hopeful
that we will announce the successful conclusion of the Definitive
Agreement pursuant to the Letter of Intent signed in June 2011. We
will provide further details as soon as they become available".
About Raydan Manufacturing Inc Raydan Manufacturing Inc, based in
Edmonton, Alberta, develops and produces specialized suspension and
coupling systems for trucks, trailers and heavy equipment.
Installations are completed at the Company's chassis modification
centre in Alberta. Established in 1992, Raydan exports its
innovative, high-quality products to end-users and original
equipment manufacturers (OEMs) in the heavy-duty truck, truck
crane, fire/rescue and other severe use sectors around the world.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. This
new release contains forward-looking statements that involve risks
and uncertainties, which may cause actual results to differ
materially from the statements made. Potentially, many factors
could cause our actual results to vary materially from those
described herein as intended, planned, anticipated or expected.
Raydan Manufacturing Inc. does not intend and does not assume any
obligation to update these forward-looking statements. Raydan
Manufacturing Inc. CONTACT: Raydan Manufacturing IncJoan Richardson
Tel: 780-955-2859 .Toll Free: 1-888-472-9326
jrichardson@raydanmfg.com www.raydanmfg.com
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