Trading Symbol: PIH
NELSON, BC, Feb. 14, 2013 /CNW/ - Pacific Insight Electronics Corp. (the
"Company" or "PI") (TSX:PIH) announced today the results for the second
quarter ended December 31, 2012.
Sales for the second quarter ended December 31, 2012 were $12.233
million, an increase of 32% from $9.263 million for the comparative
quarter ended December 31, 2011, and were the highest level of sales by
quarter in the Company's history. Sales for the six months ended
December 31, 2012 were $23.716 million, an increase of 34% over $17.670
million, the sales achieved in the comparative 6 month period.
Second quarter results reported a net loss of $207,000 or 3¢ per share
compared with net loss of $8,000 or 0¢ per share in the prior year
second quarter. Year to date results for the six months ending December
31, 2012 reported a loss of $151,000 or 3¢ per share compared with a
loss of $439,000 or 7¢ per share in the prior year six month period
ending December 31, 2011.
Pacific Insight Electronics Corp. (PI) designs, manufactures and
delivers electronic products and full service solutions to the heavy
truck, automotive and specialty markets. PI designs and distributes its
products and services to original equipment manufacturers and
distributors in the United States and Canada.
The information in this news release was prepared in accordance with
International Financial Reporting Standards ("IFRS"). To view the full
December 31, 2012 Condensed Interim Consolidated Financial Statements
and Management Discussion & Analysis please visit www.sedar.com.
THE TSX HAS NOT REVIEWED AND DOES NOT ACCEPT THE RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS RELEASE. MANAGEMENT ACCEPTS FULL
RESPONSIBILITY FOR THE INFORMATION CONTAINED HEREIN.
SOURCE: Pacific Insight Electronics Corp.
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