Victoria, British Columbia, Canada - Monday, May 14, 2007 - Carmanah Technologies Corporation (TSX: CMH) is pleased to announce its results for the three months ended March 31, 2007.
HIGHLIGHTS FOR THE QUARTER
Record Q1 2007 revenues of $14,961,000, representing a 18% increase over Q1 2006 at $12,694,000;
Q1 2007 revenues in Solar LED Lighting Division of $6,876,000, representing an 27% increase over the same period in 2006;
Outstanding orders of $5,231,000 going in to Q2 2007;
Q1 2007 gross margin of 34%;
Q1 2007 EBITA of $(323,000);
Q1 2007 net earnings of $(464,000).
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SUMMARY OF RESULTS
Over the last nine months, Carmanah has invested significantly in terms of both time and money building its 5-year vision, as well as making the necessary enhancements to ensure it is an efficient and scaleable growth organization.
