Pacific Insight Electronics Corp. announces Q2 results



    Trading Symbol: PIH-T

    NELSON, BC, Feb. 12 /CNW/ - For the three-month period, ended
December 31, 2007, sales were $7.01 million as compared with $9.46 million in
the same period last year, a decline of $2.45 million. For the first six
months, sales decreased from $18.92 million in fiscal 2007 to $14.04 million
in fiscal 2008. A number of factors caused the overall reduction in sales
during the last six months, the most significant of which were lower demand
for heavy trucks in the US and a significant strengthening of the Canadian
dollar. PI is susceptible to the heavy truck industry's economic swings, as it
accounts for over 60% of our sales. Over 73% of PI's sales are denominated in
US dollars.
    Profitability was impacted by reduced sales levels and costs associated
with foreign exchange rate shifts. In light of these challenges, management is
committed to re-aligning both manufacturing and administrative expenses,
preserving cash flow and maintaining a solid balance sheet.

    
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                       For the three months ended   For the six months ended
                                December 31                December 31
                      -------------------------------------------------------
                            2007          2006          2007          2006
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    Sales             $  7,012,698  $  9,464,697  $ 14,309,469  $ 18,919,448
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    Net earnings      $   (406,943) $    781,886  $   (625,226) $  1,438,163
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    EPS fully diluted     (7 cents)     12 cents     (10 cents)     23 cents
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    The strength of the Canadian dollar poses short-term challenges for all
Canadian exporting manufacturers. We know we can rely on our competent
associates and managers, as they continue to offer products of superior
quality and of world-class reputation. As an integrated designer and
manufacturer, PI is committed to responsive, value-added product development
for customers and proprietary product development for the transportation
industries.
    For further information, please refer to the December 31, 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.

    
          THE TSX EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT THE
             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: investor@pacificinsight.com or 1-800-995-1155


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