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Carmanah Reports Third Quarter 2017 Results
Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today reported its third quarter financial results for the period ended September 30, 2017. Currency amounts are in U.S. dollars unless otherwise noted. All figures below, unless otherwise stated, are for Carmanah’s continuing operations and exclude the operating results from the Company’s Power business segment. The planned disposal was announced in a press release dated October 11, 2016. In the third quarter of 2017, the Company generated revenues of USD $14.5 million, up 28% from Q3 2016 revenues of USD $11.3 million. Signals revenues increased 38% to USD $13.8 million, partially attributable to the acquisition of Vega Industries Ltd as described in the press release on August 1, 2017. Our Offshore Wind, Marine and Traffic verticals had strong year-over-year increases in revenues, while our remaining Signals verticals had year-over-year decreases. Our Illumination segment revenues decreased 50% to USD $0.7 million when compared to the same period in 2016. This decline resulted from the transition to the Company’s new EverGen product offering. The net income in the third quarter of 2017 was USD $0.3 million down from USD $1.1 million in the third quarter of 2016. Carmanah management relies on Adjusted EBITDA[1] (a non-IFRS measure) to gauge financial performance.Carmanah Announces Release Date for Third Quarter 2017 Financial Results and Conference Call
Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) will release its third quarter 2017 financial results on Tuesday, November 14th, 2017 after market close. Carmanah has scheduled a conference call for analysts at 6:00 am PST (9:00 am ET) on Wednesday, November 15th, 2017.Carmanah supports local triathlete in pursuit of big dreams
Paying it forward sparks community connections with Big Brothers Big Sisters of VictoriaSolar Training Center in Haiti Puts Sol Front and Center
In late October 2017, the Solar Training Center at Haiti Tec in Port au Prince, Haiti, will begin its inaugural first-year solar technician class—and the Sol EG145 solar street light will be in the spotlight. Brad Burkhartzmeyer and Carol Weis, members of the Solar Electric Light Fund (SELF) curriculum team, set up the program in […]Carmanah Announces Final Results of Substantial Issuer Bid
Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) announces that it has taken up and paid for 6,000,000 million common shares (“Shares”) at a price of CAD $5.00 per Share under Carmanah’s substantial issuer bid (the “Offer”) for a total cost of CAD $30.0 million.Carmanah Announces Filing of Substantial Issuer Bid Documents
Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) announces Carmanah’s substantial issuer bid (the “SIB”) to purchase up to $30.0 million of its common shares (“Shares”). On August 23, 2017, Carmanah announced its intention to commence an SIB, pursuant to which Carmanah will offer to purchase for cancellation up to CAD $30.0 million Shares at a price of CAD $5.00 per Share.