Category: Investor News

Carmanah announces Q3 2009 results

Victoria, BC, Canada - (November 12, 2009) - Carmanah Technologies Corporation (TSX: CMH) today announced its third quarter financial results for the three-month period ending September 2009. (All amounts are in US dollars.) Highlights for the Quarter Revenues: $9.5 million, down from $12.2 million for the same period in 2008 Signal & Illumination Revenues: $5.4 million, down from $6.9 million for the same period in 2008 Gross margin: 33%, down from 38% in 2008 Operating expenses before restructuring: $3.2 million, down from $4.1 million for the same period in 2008 Net income: $1.2 million, up from $0.7 million in 2008 Adjusted EBITDA: $1.4 million, up from $1.2 million in 2008 Cash flow from operations: $1.7 million, up from negative cash flow of $0.9 million in 2008 Cash balance: $8.9 million as at September 30, 2009, up rom $4.1 million at the same period in 2008 Nil debt: Continued debt-free operation To view full financials, click here. Summary of Results Although the global economic downturn continues to present a challenge, a streamlining of operations and the resulting reduction in operating expenses is helping to keep operating costs low, while the introduction of several new products including the restyled EverGEN 1710 light presents new opportunities.

Carmanah announces release date and conference call details for 2009 Q3 financial results

VICTORIA, BC, CANADA (November 9, 2009) - Carmanah Technologies Corporation (TSX:CMH) will release its third quarter financial results for the three-month period ending September 30, 2009 on Thursday, November 12th, 2009 at 1:00 pm PT (4:00pm ET). To discuss these results, Carmanah has scheduled a conference call for 2:00 pm PT (5:00 pm ET) that day.

Carmanah announces change of reporting currency to USD, realigned reporting segments, and release date for 2009 Q3 financial results

VICTORIA, BC, CANADA (November 4, 2009) - Carmanah Technologies Corporation (TSX: CMH) today confirmed that the company will change the reporting currency of its financial information from Canadian dollars to US dollars, effective the third quarter of 2009. This action, previously communicated in the company's 2009 second quarter report, reflects the profile of its revenue and net profit which are now primarily generated in US dollars. "The move to reporting in US dollars just makes sense," said Roland Sartorius, CFO, Carmanah Technologies.

City of LA installs solar powered LED bus stop lighting as part of green streetlight program

VICTORIA, BRITISH COLUMBIA, CANADA (November 3, 2009) - The City of Los Angeles is working with Carmanah Technologies (TSX: CMH) to illuminate off grid locations with solar power. As part of a green streetlight program, the City is replacing high pressure sodium lighting fixtures with hardwired LED streetlights such as the LEDway™ luminaire from BetaLED® - and lighting nearby bus stops with solar powered EverGEN™ lights from Carmanah. Like the City's new BetaLED grid-powered LED streetlights, the solar-powered EverGEN 30 and EverGEN 1520 lights will feature LEDway lighting fixtures for a consistent look and optimum performance.

Solar Innovator named one of Canada’s Top 10 Cleantech Companies

Cleantech 10™ list pinpoints the top publicly traded Cleantech companies in Canada

Formula One Circuit Goes Solar with Carmanah Technologies

Yas Marina Circuit Equips High-Tech Track for Abu Dhabi Grand Prix

Solar powered parking-lot light delivers affordable off-grid illumination

Carmanah EverGEN 1710 developed in partnership with frog design

Nuclear Power Plant Goes Solar With Off-Grid LED Outdoor Lighting

VICTORIA, BRITISH COLUMBIA, CANADA (August 25, 2009) - One of California's largest state utilities, Southern California Edison (SCE), is lighting up the night with solar technology at its San Onofre Nuclear Generating Station (SONGS). To illuminate its main employee parking areas, Edison is equipping the site with solar-powered LED lights from Carmanah Technologies (TSX: CMH).

Carmanah divests of LED edge-lit signs business to continue focusing on Strategic Solar Lighting & Power Technology Markets

VICTORIA, BRITISH COLUMBIA, CANADA (August 18, 2009) Carmanah Technologies Corporation (TSX: CMH) is pleased to announce that the Company and Dr. David Green have today closed on an agreement whereby Dr. Green, through his holding company, has purchased Carmanah's LED edge-lit signs business, Carmanah Signs Inc.

Carmanah Q2 2009 results reflect 20% increase in strategic revenues

Victoria, BC, Canada - (August 10, 2009) - Carmanah Technologies Corporation (TSX: CMH) ) today announced its second quarter financial results for the three-month period ending June 2009. Strategic sales were $7.3 million, up almost 20% over the same period the prior year, although total sales for Q2 2009 were $9.3 million, down from $15.7 million for the same period last year, due the exiting of various low margin product lines. Highlights for the Quarter Revenues: $9.3 million, down from $15.7 million for the same period in 2008 Strategic Revenues: $7.3 million, up from $6.1 million for the same period in 2008 Gross margin: 37%, up from 32.5% in 2008 Operating expenses: $4.2 million, down from $5.6 million in 2008 Net loss: $1.0 million, up from $0.4 million in 2008 Adjusted EBITDA: Adjusted EBITDA of ($1.1) million, down from $0.4 million in 2008 Cash flow from operations: $2.5 million, up from $1.5 million in 2008 Cash balance: $10.2 million as at June 30, 2009, from $5.5 million at the same period in 2008 Nil debt: Continued debt-free operationSales: $10.4 million, down from $15.1 million for the same period in 2008 To view full financials, click here. Summary of Results Carmanah, like most businesses, has not been immune from the global economic downturn, but significant sales growth in its key strategic markets indicate a continued and growing demand for the company's cost-effective solar-LED lighting products.