Victoria, British Columbia, Canada - Tuesday, August 8, 2006 - Carmanah Technologies Corporation (TSX: CMH) is pleased to announce its second quarter results for the three and six months ended June 30, 2006 and 2005.
Highlights for the quarter:
Record Q2 2006 revenues of $15,844,155, representing a 142% increase over Q2 2005 and 25% over Q1 2006 at $12,693,769.
Record 2006 year-to-date revenues at $28,537,924, representing a 151% increase over the same six-month period in 2005.
Record Q2 2006 orders booked of $16,152,968.
Sales order backlog of $6,681,294.
Gross margin at 34% for Q2 2006 and for the six months ending June 30, 2006.
Q2 2006 EBITA in the amount of $773,025, representing an increase of 503% over Q1 2006 at $128,249.
Q2 2006 net earnings in the amount of $123,543, compared to Q1 2006 loss of $(23,290).
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Summary of Results
Q2 2006 is trending as per management's expectations.