Posts
Sales of Carmanah 650 Solar LED Signaling Lights Reach 7,000 Units
VICTORIA, BRITISH COLUMBIA, CANADA (April 22, 2010) With a recent order from Dubai-based PTL Solar for 1,000 units, sales of Carmanah Technology Corporation's 650 series solar LED aviation and marine signaling lights have now exceeded 7,000 units since the line's launch in mid-2009. The recent order from PTL Solar is destined for airfields in the Middle East and will be deployed to improve airfield safety and enhance operational efficiency.Carmanah Announces Release Date for 2010 Q1 Financial Results and Conference Call
VICTORIA, BRITISH COLUMBIA, CANADA (April 15, 2010) - Carmanah Technologies Corporation (TSX:CMH) will release its first quarter financial results for 2010 on Thursday, May 6, 2010 at 1:00 pm PT (4:00 pm ET). To discuss the results, Carmanah has scheduled a conference call for 2:00 pm PT (5:00 pm ET) that day.Carmanah Announces Fourth Quarter and Year-End 2009 Results
Victoria, BC, Canada - (March 31, 2010) - Carmanah Technologies Corporation (TSX: CMH) today released its results for the fourth quarter and year-end December 31, 2009. 2009 Year Summary ($USD) Sales: $31.6 million for 2009, down from $51.9 million in 2008 Signals & Illumination sales of $22.2 million for 2009, down from $27.9 million in 2008 Systems & Other sales of $9.4 million for 2009, down from $24.1 million in 2008, primarily due to the 2009 exit of signage and distribution businesses Gross margin: 34% for 2009, down from 35% in 2008 Net loss: $0.6 million for 2009, compared to a net loss of $7.5 million in 2008 (including the impact of the goodwill impairment write-off of $8.7 million) Adjusted EBITDA: $0.8 million of income for 2009, compared to $4.0 million income in 2008 Positive cash flow from operations: $5.7 million for 2009, compared to $3.0 million in 2008 Cash balance: $8.7 million as at December 31, 2009, up from $5.8 million at the end of 2008 Debt: Nil 2009 Fourth Quarter Summary ($USD) Sales: $6.8 million for Q4 2009, down from $12.2 million in 2008 Signals & Illumination sales of $5.3 million for 2009, from $8.3 million in 2008 (primarily from solar LED illumination) Systems & Other sales of $1.5 million for 2009, down from $3.9 million in 2008 (due to the exit of sign and distribution businesses in early 2009) Gross margin: 27.4% for Q4 2009, down from 36.5% in 2008 Net loss: $0.9 million for Q4 2009, compared to a net loss of $8.0 million (including the impact of the goodwill impairment write-off of $8.7 million) for Q4 2008 Adjusted EBITDA: $0.3 million loss for 2009, compared to $2.0 million income in 2008 To view full financials, click here. Summary of Results In the face of a cautious and challenging 2009 sales environment, many steps were taken by Carmanah to assure growth in 2010 and beyond. The 2008 shift to independent channels of distribution began to take hold with the weaning out of weaker distributors and the strengthening of strategic partnerships, including new arrangements for distribution of signaling and illumination products with ADB Airfield Solutions, PTL Solar and Semex. The Company's EverGEN illumination lighting products continued to show acceptance in the marketplace and the Carmanah brand and reputation for quality in the solar powered illumination area broadened to open more doors for more partnerships. "Our progress is step by step and strategic," says Ted Lattimore, CEO, Carmanah Technologies.Carmanah and Sabik Partner to Deliver Total Marine Lighting Solutions
VICTORIA, BC, CANADA and PORVOO, FINLAND (March 18, 2010) - Marine lighting pioneers Carmanah Technologies Corporation and Sabik Oy announced today that the two organizations have joined forces to deliver a complete range of marine lighting solutions under the Carmanah/Sabik brand. Under the terms of the agreement, both Carmanah and Sabik will expand their marine product families to include the other company's marine lighting solutions and will leverage each others' sales and distribution channels to deliver a complete range of marine lights to their respective global customer bases. "Sabik is a leader in optical technology and communications systems, and we are delighted to partner with them to deliver total marine lighting solutions to our customers," said Ted Lattimore, Carmanah CEO.Carmanah Announces Release Date for 2009 Annual Financial Results and Conference Call
VICTORIA, BRITISH COLUMBIA, CANADA (March 17, 2010) - Carmanah Technologies Corporation (TSX:CMH) will release its annual financial results for 2009 on Wednesday, March 31, 2010 at 1:00 pm PT (4:00 pm ET). To discuss the 2009 results, Carmanah has scheduled a conference call for 2:00 pm PT (5:00 pm ET) that day.Carmanah and ADB Expand Partnership Globally
VICTORIA, BC, CANADA and ZAVENTUM, BELGIUM (March 9, 2010) - ADB Airfield Solutions and Carmanah Technologies Corporation announced today that they are expanding their partnership agreement to include Europe, South America, the Middle East/Africa and Asia Pacific. Today's agreement links Carmanah and ADB worldwide, enabling both companies to proceed with a global partnership focused on complementing ADB's line of airfield lighting products with a range of solar powered LED airfield lights manufactured by Carmanah. In November of 2009, Carmanah and ADB Airfield Solutions LLC (Ohio) announced a partnership to provide a line of solar LED airfield lighting in North America and the Caribbean.