IPICO Inc. announces second quarter results



    BURLINGTON, ON, Aug. 14 /CNW/ - IPICO Inc. (TSX-V: RFD) today announced
results for the three months ended June 30, 2008. Revenue for the second
quarter was $1,180,958 compared to $1,010,367 in the second quarter of 2007.
Gross margin was $518,950 compared with $337,894 in 2007. Net loss for the
quarter was $2,528,051 ($0.05 per share) compared to $2,134,827 ($0.07 per
share) in 2007.

    
    -------------------------------------------------------------------------
                                                  Three months ended June 30
    (in Canadian dollars, except per share)              2008           2007
    -------------------------------------------------------------------------
    Revenue                                       $ 1,180,958    $ 1,010,367
    Gross margin                                      518,950        337,894
    Gross margin %                                      43.9%          33.4%
    Total operating expenses                        3,040,469      2,214,192
    Net loss                                       (2,528,051)    (2,134,827)
    Net loss per share (basic and diluted)              (0.05)         (0.07)
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    

    The Company's cash and cash equivalents at June 30, 2008 was $9,313,508
compared with $7,914,550 at December 31, 2007. The Company's unaudited interim
consolidated financial statements for the second quarter ended June 30, 2008
along with management's discussion and analysis thereon can be on found on
SEDAR at www.sedar.com under the trading symbol TSX-V:RFD.

    ABOUT IPICO Inc.

    IPICO Inc. is an RFID solution supplier with operations in Canada, USA,
South Africa, Europe, Asia and Australia. IPICO produces smart labels, tags
and readers based on the IP-X communication protocol. Its products are
designed to conform to regulatory requirements in most major geographical
regions, to excel at long read range, fast multi-read anti-collision and high
thru-beam read-speeds of dynamic tag populations, and to allow for
multi-reader rollout in close proximity. IPICO's products are used to optimize
the management of products, equipment, people, animals and processes within
the logistics and other value chains. For further information, go to
www.ipico.com.

    
    THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
    OR THE ACCURACY OF THIS RELEASE.
    

    %SEDAR: 00023515E




For further information:

For further information: Gordon Westwater, President & CEO, IPICO Inc.,
Tel: (905) 631-6310, Email: gordon.westwater@ipico.com; Ted Irwin, Chief
Financial Officer, IPICO Inc., Tel: (905) 631-6310, Email:
ted.irwin@ipico.com

Organization Profile

IPICO 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