Revenue Picture Brightens for Carmanah in 2004

March 15, 2005
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Revenue picture brightens for Carmanah in 2004

Revenues for Carmanah Technologies Corp. (TSX: CMH) in 2004 increased by 72 per cent over the previous year.

According to its 2004 financials, the Victoria-based company pulled in close to $16 million compared with $9.2 million in 2003.

Carmanah’s net earnings last year were $592,823 – up from a loss of $126,394 in 2003.

The company credited the increases to higher demand for its products within the aviation and transit markets, which had generated over $7 million for Carmanah.

Carmanah develops solar-powered light emitting diodes (LEDs).

The company has sold more than 100,000 of its LED lamps in 110 countries.