When Carmanah Technologies reports its year-end financial results at the end of this month, the solar-lighting company will paint a picture of strength, stability and promise.
The Victoria-based company will report year-end revenue of more than $68 million US, a 56 per cent increase over 2014. Its forecast for earnings before interest, taxes, depreciation and amortization will exceed analysts’ predictions of $8.2 million US.
It’s impressive, considering the recent history of the 20-year-old firm.
“I’ve been a student of and a participant in turnarounds for the last 20 to 25 years and I’ve never seen anything turn around this rapidly,” said Carmanah chief executive John Simmons. “I can’t help but think the best is yet to come.”
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