Pacific Insight Electronics Corp. announces Q1 earnings



    Trading Symbol: PIH-T

    NELSON, BC, Nov. 12 /CNW/ - PI provides leadership in the planning,
design, and manufacturing of innovative electronic solutions for the
transportation industries.

    
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                      For the three months ended          For the year ended
                                    September 30                     June 30
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                              2007          2006          2007          2006
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    Sales             $  7,026,771  $  9,454,751  $ 34,209,386  $ 39,254,127
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    Net earnings      $   (218,283) $    656,277  $  2,200,793  $  2,896,124
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    EBITDA            $    108,637  $  1,458,523  $  4,830,212  $  5,990,565
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    EPS fully diluted     (4 cents)     11 cents      35 cents      44 cents
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    Overview of the Business - The three months ended September 30, 2007
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    In the first quarter of fiscal 2008, revenues decreased by $2.4 million
(26%) from $9.4 million in fiscal 2007 to $7.0 million in fiscal 2008. The
decrease in revenues was primarily related to the down turn in the heavy truck
industry as approximately 65% of PI's revenues are generated in that industry.
    The decrease in profits is related to lower sales; however, it is also
attributable to foreign exchange losses from the continued weakening of the US
Dollar. During the first quarter, the Company experienced $246,000 in foreign
exchange losses. At the time of writing, the Canadian Dollar is at an all time
high relative to the US Dollar.
    Management expects the second quarter of fiscal 2008 to be further
impacted by the foreign exchange environment. Despite the operational
challenges with the fluctuating foreign exchange and the heavy truck downturn,
Management is still optimistic on the future of Pacific Insight.

    For further information, please refer to the September 30, 2007 MD&A and
interim financial statements on our profile on SEDAR at www.sedar.com. A
comprehensive overview of the Company and its products and services can be
viewed on our company website, www.pacificinsight.com.

    
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             RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS
             NEWS RELEASE. MANAGEMENT ACCEPTS FULL RESPONSIBILITY
                    FOR THE INFORMATION CONTAINED HEREIN.
    





For further information:

For further information: on Pacific Insight, please contact:
investor@pacificinsight.com or 1-800-995-1155.


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