Category: Uncategorized

US Coast Guard Stocks Up on Carmanah Solar-LED Marine Lanterns for Hurricane Season

$600,000 Order to Help Ensure Emergency Preparedness

BC Housing Complex Upgrades with Grid Tie Solar Power

Solar Grid Tie Project to be Western Canada's Largest

Rob Cruickshank appointed Carmanah Technologies’ Chairman of the Board

VICTORIA, BRITISH COLUMBIA, CANADA (May 22, 2009) The Board of Directors of Carmanah Technologies Corporation (TSX: CMH) has appointed Rob Cruickshank as Chairman of the Board. "Rob Cruickshank brings an impressive range of knowledge and experience to this role," said Dr.

Carmanah Reports Q1 2009 Results Support Strategic Focus

Victoria, BC, Canada - (May 12, 2009) - Carmanah Technologies Corporation (TSX: CMH) today announces its first quarter financial results for the three-month period ending March 2009. Sales for Q1 2009 were $10.4 million, down approximately $4.7 million from the same period last year, due mainly to exiting/divesting several tactical business units during this period.

Carmanah Announces Release Date for 2009 Q1 Financial Results and Conference Call

VICTORIA, BRITISH COLUMBIA, CANADA (May 7, 2009) Carmanah Technologies Corporation (TSX:CMH) will release its first quarter financial results for the three-month period ending March 2009 on Tuesday, May 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.

Trinidad International Airport Upgrades Runways with Carmanah Solar-LED Airfield Lights

VICTORIA, BRITISH COLUMBIA, CANADA (May 6, 2009) - Trinidad's Piarco International Airport has upgraded its airfield lighting with solar-powered LED airfield lights from Victoria BC-based Carmanah Technologies (TSX: CMH). Valued at approximately $300,000, the order includes Carmanah A704-5 runway edge lights, approach lights and threshold lights, as well as A702 taxiway lights, mounting hardware and wireless handheld radio remote-control equipment.

Carmanah Launches Solar-LED Streetlights at LIGHTFAIR

VICTORIA, BRITISH COLUMBIA, CANADA (May 5, 2009) - Carmanah Technologies (TSX:CMH) will introduce its next generation of solar-powered LED lights today at the LIGHTFAIR International tradeshow and conference in New York City. As part of a new "General Illumination" (GI) product line, the company will feature a range of solar-powered lights for street and parking lot applications, including the powerful new EverGEN™ 1500, along with a preview of the company's sleek new EverGEN 1700-series design. As a stand-alone alternative to traditional hard-wired streetlights, Carmanah solar-powered lights are designed to offer convenience without compromise.

City of Toronto Upgrades Parking Facility with Grid-tied Solar Power System

VICTORIA, BRITISH COLUMBIA, CANADA (April 08, 2009) - A City of Toronto parking facility is getting a green upgrade with solar power technology from Carmanah Technologies (TSX: CMH). Valued at more than $550,000, the grid-tie system will help the multilevel parking facility to control energy costs, while reducing its reliance on the Toronto Hydro distribution system. Starting with a structural upgrade to strengthen existing rooftop supports, the project will include a web-based performance-monitoring system that tracks system status, power production and environmental variables to ensure optimal operation.

Toronto Parking Authority Goes Green with Grid-Tie Solar Power System

VICTORIA, BRITISH COLUMBIA, CANADA (March 12, 2009) - As part of an ongoing renewable energy initiative, the Toronto Parking Authority (TPA) in Ontario, Canada is installing a solar powered grid-tie system from Carmanah Technologies Corporation (TSX: CMH). Valued at approximately $248,000, the wall mounted grid-tie system will generate electricity from the sun's energy to help power the TPA facility, reducing the facility's reliance on the Toronto Hydro distribution system while helping to control energy expenses.

Carmanah Announces Record Operating Performance Prior to Write-Down of Goodwill Due to Current Market Conditions

Victoria, BC, Canada - (March 10, 2009) - Carmanah Technologies Corporation (TSX: CMH) today posted 2008 revenues of $60.6 million including a 40% increase from strategic businesses, along with a strong operating performance prior to a non-cash write down of goodwill due to market conditions. 2008 Highlights Sales: $60.6 million for 2008, up 2% from $59.3 million in 2007 Strategic sales of $34.1 million for 2008, up 40% from $24.3 million in 2007 (primarily from solar LED lighting) Tactical sales of $26.5 million for 2008, down 24% from $35.0 million in 2007 (due to the 2008 exit of transit & distribution, and late 2007 exit of home power tactical markets) Gross margin: 34.3% for 2008, up from 26.3% in 2007 Goodwill and intangible impairment: $10.7 million for 2008.This impairment is non-cash and does not affect liquidity, cash flows from operating activities or impact future operations. Net income: $1.3 million (excluding the impact of the goodwill and intangible impairment charges) for 2008, compared to a net loss of ($6.9) million in 2007 Adjusted EBITDA: $4.7 million for 2008, compared to ($7.6) million in 2007 Positive cash flow from operations: $4.0 million for 2008, compared to $2.0 million in 2007 Cash balance: $7.9 million as at December 31, 2008, up from $4.1 million at the end of 2007 Nil debt: Continued debt-free operation Fourth Quarter Summary Sales: $15.8 million for Q4 2008, up 21% from $13.1 million in 2007 Strategic sales of $12.0 million for 2008, up 96% from $6.1 million in 2007 (primarily from solar LED lighting) Tactical sales of $3.8 million for 2008, down 46% from $7.0 million in 2007 (due to the 2008 exit of transit & distribution, and late 2007 exit of home power tactical markets) Gross margin: 33.8% for Q4 2008, up from 18.7% in 2007 Net income: $0.8 million (excluding the impact of the goodwill and intangible impairment charge) for Q4 2008, compared to a net loss of ($2.7) million in 2007 Adjusted EBITDA: $2.2 million for Q4 2008, compared to ($2.7) million in 2007 Positive cash flow from operations: $2.2 million for Q4 2008, compared to $2.1 million in 2007 To view full financials, click here. Summary of Results Throughout 2008, Carmanah reinforced its strategic focus, controlled costs, and increased its investment in relevant R&D to foster a stronger and more resilient business, said Ted Lattimore, Carmanah CEO.