Victoria, British Columbia, Canada - Tuesday, August 14, 2007 - Carmanah Technologies Corporation (TSX: CMH) announces its results for the six months ended June 30, 2007.
Highlights for the Quarter
Q2 2007 revenues of $15,366,000, compared to Q2 2006 at $15,842,000, representing a 3% decline over the period;
YTD revenues of $30,551,000, compared to $28,432,000, representing a 7.5% increase over the period;
Q2 2007 gross margin at 20% and YTD gross margin at 27.5%;
Q2 2007 EBITA of ($4,024,000) and YTD EBITA of ($4,347,000);
Q2 2007 net earnings of ($3,049,000) and YTD net earnings of ($3,513,000);
Sales order backlog of $4,460,000 going into Q3 2007.
Click here for full financial report including financial statements and Management Discussion & Analysis.
Summary of Results
"During Q2 2007, Carmanah faced challenges on many fronts," states Art Aylesworth, Carmanah's CEO.