Vancouver, BC, Canada - (July 27, 2004) - Carmanah Technologies Corporation (TSX VE:
CMH) is pleased to announce its second quarter results for the six months ended June 30, 2004 and 2003.
Highlights for the Quarter:
Record Q2 2004 revenues of $3,504,092, representing a 117% increase over Q2 2003;
2004 year-to-date revenues at record $7,617,793, representing a 116% increase over the same six-month period in 2003;
Net loss for the quarter of $156,189, as compared to $82,887 for the same period in 2003;
Year-to-date net earnings of $213,303, as compared to a loss of $69,972 for the same period in 2003;
Gross profit margin increasing to 57% in Q2 2004, from 52% for Q1 2004.
"The Company continued to make good progress in Q2 2004," states Carmanah's CEO, Mr.
