Pacific Insight Electronics Corp. announces second quarter results

Trading Symbol: PIH

NELSON, BC, Feb. 10 /CNW/ - Sales for the quarter ended December 31, 2009 reached $7.405 million, as compared to $7.408 million for the comparative quarter in 2008. Sales for the six-month period were $13.056 million, as compared to $14.749 million a year earlier. The second quarter net income was $23,000 or 0 cents per share compared with net income of $46,000 or 1 cents per share in the prior year. For the six month period ending December 31, 2009 PI reported a net loss of 2 cents per share compared to net income of 3 cents per share, a year earlier.

    
    The following chart provides an overview of key financial results:
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                                       For the                For the
                                 three months ended       six months ended
    In Thousands of             ---------------------------------------------
     Canadian $'s                Dec. 31,    Dec. 31,    Dec. 31,    Dec. 31,
     (except EPS)                   2009        2008        2009        2008
    -------------------------------------------------------------------------
    Sales                         $7,405      $7,408     $13,056     $14,749
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    Net earnings (loss)              $23         $46       ($110)       $201
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    EPS fully diluted              $0.00       $0.01      ($0.02)      $0.03
    -------------------------------------------------------------------------
    

Pacific Insight Electronics Corp. (PI) designs, manufactures and delivers electronic products and full service solutions to the automotive, heavy truck and specialty markets. PI maintains two manufacturing facilities - one located in Nelson, British Columbia, Canada and one located in Fresnillo, Zacatecas, Mexico.

To view the December 31, 2009 Financial Statements and Management Discussion & Analysis please visit www.pacificinsight.com or 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.

For further information: For further information: Email enquiries may be sent directly to investor@pacificinsight.com or via telephone: 1-800-995-1155.


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