icefloe Technologies Inc. Announces 3rd Quarter 2007 Operating Results and Update on Recapitalization Initiative
21 11월 2007 - 6:03AM
Marketwired
MISSISSAUGA, ONTARIO (TSX VENTURE: ICY) today released its
operating statements for the 3 month and 9 month periods ending
September 30, 2007.
- Third Quarter Sales of $719,580, a decrease of $326,231 or 31%
from the same period in 2006. Year-to-date Sales of $2,071,517, a
decrease of $274,996 or 12% from the same period in 2006.
- Gross Margin in the Third Quarter of $266,409 or 37% of sales,
a decrease of $49,910 or 16% from the same period in 2006.
Year-to-Date Gross Margin of $756,393 or 37% of sales, an increase
of $96,541 or 15% from the same period last year.
- EBITDA loss in the Third Quarter was $59,900 versus a loss of
$94,498 in the same period in 2006. Year-to-date EBITDA loss of
$272,576, a 58% improvement from an EBITDA loss of $643,017 in the
same period last year.
- Third Quarter Net Loss of $238,850, an improvement of $47,847
or 17% from the same period in 2006. Year-to-date Net Loss of
$849,357, an improvement of $392,942 or 32% from the same period
last year.
"We are pleased with the progress we have made on profitability
in 2007, as reflected in the year-to-date Gross Margin, EBITDA and
Net Loss levels," commented Wayne Newson, icefloe's President &
CEO. "These significant improvements are a result of the Company's
continued focus on developing and commercializing the higher margin
icefloe products, combined with a continued focus on cost
containment at all controllable levels."
"The Third Quarter and year-to-date reductions in Sales Revenue
are a result of product mix and a change in commercial process
initiated by a major customer, plus a slow down in our UK business
compared to 2006. These Revenue reductions are not a negative
reflection on our overall business as the significant improvements
in EBITDA and Net Loss attest."
"On April 19, 2007, icefloe announced that it was commencing
exploration of all options to maximize shareholder value, including
the sale of the Company." Newson continued, "To date icefloe has
been unable to secure the required additional investment required
to carry it through the next year. The Company will immediately
retain outside assistance to evaluate potential additional
capitalization options."
ABOUT ICEFLOE TECHNOLOGIES INC
Founded in March 2001, icefloe is a Canadian- based company
dedicated to the development and commercialization of its
proprietary chilling technology which brings flash chilling
capability in a portable form and enables the beverage industry to
serve ice cold draft beer without excessive foam loss, anytime and
anywhere. Since April 2001, icefloe has focused its efforts on
securing patents for its platform technologies, while developing,
field-testing, manufacturing and marketing commercial products
using its unique technologies. Its wholly owned subsidiary, Draught
Guys Inc., provides installation, sales and service for both
traditional draft systems and icefloe's proprietary products in the
Ontario market. icefloe commenced trading on Tier 2 of the TSX
Venture Exchange on April 14, 2004 under the symbol "ICY".
For more information about icefloe, please visit the company
website at www.icefloe.com.
Certain information included in this press release is
forward-looking and may involve risks and uncertainties. The
results or events predicted in these statements may differ
materially from actual results or events. Factors that might cause
a difference include, but are not limited to, competitive
developments, risks associated with icefloe 's growth, the
development of the beverage market, regulatory risks, intellectual
property infringement and other factors. Unless otherwise required
by applicable securities laws, icefloe disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
More detailed information about potential factors that could affect
icefloe's financial and business results is included in public
documents icefloe files from time to time with Canadian securities
regulatory authorities.
No Securities Commission or other regulatory authority having
jurisdiction over icefloe has approved or disapproved of the
information contained herein.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: icefloe Technologies Inc. Wayne Newson President, CEO
and Interim CFO (905) 712-7777 (905) 712-2826 (FAX) Email:
wnewson@icefloe.com Website: www.icefloe.com
Icefloe Technologies (Tier2) (TSXV:ICY)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Icefloe Technologies (Tier2) (TSXV:ICY)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024