Garneau Inc. first quarter results ended March 31, 2009



    NISKU, AB, May 15 /CNW/ - May 15, 2009, Garneau Inc. (GAR-TSX) today
filed its First Quarter Report and related Management's Discussion and
Analysis for the quarter ended March 31, 2009.
    Copies of these documents are available electronically at www.sedar.com
or the Company's website at www.garneau-inc.com.

    
    Selected Annual Information
    ---------------------------

    Summary of Results                                   Three months ended
    (In thousands, except per share data, unaudited)    March 31,   March 31,
                                                            2009        2008
    -------------------------------------------------------------------------
    Revenue                                              $ 4,448     $ 5,307
    Margin                                                 1,374       1,170
    Margin %                                                30.9%       22.0%
    Earnings (loss) before income taxes                   (1,067)     (1,221)

    Net earnings (loss)                                   (1,067)     (1,221)
    Earnings (loss) per share - basic                      (0.09)      (0.10)
    Earnings (loss) per share - diluted                    (0.09)      (0.10)

    The Corporation also announces that Megan Picard, CAxIT/CISA, CMA has been
appointed Interim Chief Financial Officer.

    About Garneau Inc.
    ------------------
    

    Garneau Inc's primary business has been the application of high
performance protective coating and linings for oil and gas pipeline
protection. The corporation also designs and fabricates oilfield equipment for
both domestic and international markets. With over 30 years of operating
experience, Garneau Inc. has developed a significant level of expertise and is
well known for innovative technology. The company's website can be accessed at
www.garneau-inc.com.

    This report includes forward looking statements that are based on the
Garneau's current expectations and therefore are subject to uncertainties such
as the level of industry drilling and coating activity, foreign exchange
fluctuations and world wide economic conditions that may cause actual results
to differ materially.

    %SEDAR: 00008952E




For further information:

For further information: Glen Garneau, President & CEO, Email:
gleng@garneau-inc.com; Megan Picard, Interim CFO, meganp@garneau-inc.com,
Phone: (780) 955-2396, Fax: (780) 955-7715,

Organization Profile

GARNEAU INC.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890