Conporec Announces its Results for the Third Quarter of 2007
24 11월 2007 - 6:00AM
Marketwired
SOREL-TRACY, QUEBEC (TSX VENTURE: CNP) announces today its
results for the third quarter ended September 30, 2007. This
quarter was characterized by the development's activities, the
planning work of our SSO Processing Facility in Becancour (Ca), as
well as the discussions related to its financing and its waste
processing contracts.
After having restructured its debt and therefore consolidated
its financial base during the first quarter, and following the
acquisition of the Parc industriel La Prade in Becancour in the
second quarter, Conporec has put significant emphasis on securing
waste supply contracts for the new plant. The project development
team has also focused its efforts on submitting five proposals or
qualification documents in France, Ontario and Quebec. As well, the
negotiations related to the contract with Mindarie Regional Council
in Australia have led last October 25 to the announcement of the
imminent construction of the new plant. Finally, the Company was
proud to announce during this quarter that it obtained a
certification from the Bureau de normalisation du Quebec (BNQ) for
the compost produced at its Sorel-Tracy Facility, a first in Quebec
and in Canada.
The third quarter results are consistent with the efforts and
resources dedicated to the intensive development of the Company.
For the period, revenues increased by 13% compared to the same
period last year. These higher revenues together with the continued
efforts to control costs, allow the Company to present a 30%
improvement of its net results with losses of $1,125k or ($0.01)
per common share, fully diluted, compared to net losses of $1,623k
or ($0.03) per common share for the same quarter in 2006. Overall,
after three quarters, net profits for Conporec total $3,766k, or
$0.03 per common share, fully diluted, including the exceptional
profit generated by the debts and debentures write-off, compared to
a loss of $3,726k for the same period of last year.
"The efforts carried out during the previous quarters allow us
to obtain increasingly positive results. The imminent start of
construction of the Australian Facility as well as the operations
at the Becancour and Sorel-Tracy facilities, should allow Conporec
to reach its objectives and continue with the implementation of its
business plan", stated CEO Jean Beaudoin.
About Conporec
Conporec inc. develops and operates various patented composting
and sorting technologies for the treatment and recycling of
municipal solid waste. Conporec successfully delivered or under
construction of several sorting-composting plants in Canada,
France, United States and Australia and also about thirty
composting installations in Canada. Conporec is a socially
responsible organization listed on the TSX Venture Exchange.
Forward-looking statements contained in this press release
involve known and unknown risks, uncertainties or other factors
that may cause actual results, performance or achievements of the
company to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements.
The TSX Venture Exchange has not approved the information
contained herein and accepts no responsibility for it, nor the
validity of the operation planned.
Contacts: Source: Conporec inc. www.conporec.com Additional
information: Conporec inc. Jean Beaudoin President and CEO
450-746-9996 418-527-9996 HKDP Communications and Public Affairs
Frederic Berard 514-395-0375, ext. 230
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