Victoria, British Columbia, Canada - Thursday, November 10, 2005 - Carmanah Technologies Corporation (TSX Venture: CMH) is pleased to announce its results for the three and nine months ended September 30, 2005 and 2004.
Highlights for the quarter:
Record Q3 2005 revenues of $12,195,908, representing a 164% increase over Q3 2004;
2005 year-to-date revenues at a record $23,587,957, representing a 93% increase over the same nine-month period in 2004;
A record sales order backlog in excess of $4 million at the close of the quarter;
Record Q3 2005 EBITDA of $657,200, representing a 37% increase over Q3 2004;
2005 year-to-date EBITA at a record $1,411,242, representing a 62% increase over the same nine-month period in 2004;.
Net earnings of $222,470 for Q3 2005 and record earnings of $873,109 for the nine months ended September 30, 2005, representing a 38% increase over the same nine-month period in 2004;
Successful completion of the acquisition of Soltek Powersource Ltd.
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Summary of Results
The third quarter of 2005 saw the Company complete the acquisition of Soltek Powersource Ltd.
