BURNABY, BC, Dec. 10 /CNW/ - International Water-Guard Industries Inc.
today announced its financial results for the fiscal year ended
September 30, 2010.
The Company is reporting fiscal 2010 revenue of $4,381,894, a 12%
decrease from the previous year's figure of $4,952,911. Net earnings
were $135,423 compared to $312,016 in the prior year.
This year's results provided net earnings of 0.3c per share compared to
0.7c in the prior year, on both a basic and fully diluted basis.
"2010 was a challenging year, but I am pleased to report that we have
been successful in maintaining profitability in the face of both
adverse exchange rates and a flat business jet market" said David C.
Fox, IWG's president and chief executive officer. "We took advantage
of this time to position the company for the anticipated industry turn
around and most importantly, we continue our search for new
opportunities to generate major growth in the coming years.
"In terms of sales, unit shipments actually increased by 7% in 2010. We
continue into 2011 with a strong balance sheet, and more than $1
million cash available."
International Water-Guard is a Canadian aerospace company focusing on
aircraft potable water treatment and full water system solutions. IWG
has expertise in all aspects of water treatment, and has the products
and know-how to provide high quality water for passengers and crew, and
light weight, space saving solutions for the aircraft operator.
On behalf of the Board of Directors
International Water-Guard Industries Inc.
"David C. Fox"
President and CEO
This news release contains certain forward looking statements that
reflect the current views and/ or expectations of IWG with respect to
its performance, business and future events. Such statements are
subject to a number of risks, uncertainties and assumptions, which may
cause actual results to be materially different from those expressed or
implied. IWG assumes no future obligation to update these forward
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
TSX VENTURE: IWG
SOURCE IWG Technologies Inc.
For further information: For further information:
|International Water-Guard Industries Inc. |
Unit One - 3771 North Fraser Way,
Burnaby, BC V5J 5G5 Canada
Tel: (604) 255-5555, 1-800-667-0331,
Fax: (604) 255-5685
| || || || ||Investor Relations: The Howard Group Inc.|
Bob Beaty / Grant Howard
Toll Free: 1-888-221-0915