Victoria, British Columbia, Canada - Monday, March 12, 2007 - Carmanah Technologies Corporation (TSX: CMH) is pleased to announce its results for the years ended December 31, 2006 and 2005.
HIGHLIGHTS FOR THE YEAR
Record 2006 annual revenues of $62,446,000, representing a 61% increase over 2005;
Outstanding orders of $4,170,000 at 2006 year end;
2006 EBITA of $2,299,000, representing a 26% increase over 2005;
2006 Earnings before tax of $1,339,000, representing a 7% increase over 2005;
2006 Net earnings of $134,000;
Net working capital of $27,315,000 at 2006 year end, up from $26,332,000 at 2005 year end.
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SUMMARY OF RESULTS
For Carmanah, the overall theme for 2006 was continued market penetration and operational development.
