Pacific Insight Posts Record Revenue and Earnings

Pacific Insight Reports Third Quarter 2016 Results

VANCOUVER, May 9, 2016 /CNW/ - Pacific Insight Electronics Corp. ("Pacific Insight") (TSX: PIH), a world-class electronics and full service solutions provider to the transportation industry, today announced its financial results for the third quarter ended March 31, 2016. All figures are in Canadian dollars unless otherwise stated.

Financial Highlights





For the 3 months ended

For the 9 months ended

In thousands of dollars (except EPS)

Mar 31, 2016

 Mar 31, 2015

Mar 31, 2016

Mar 31, 2015


$

$

$

$

Revenues

34,954

22,911

95,885

55,164

Net income  for the period

3,181

931

7,573

706

Earnings per fully diluted share

0.44

0.15

1.14

0.12

Pacific Insight's revenues for the three months and nine months ended March 31, 2016 were $35.0 million and $95.9 million, increasing from $22.9 million and $55.2 million, respectively from the same periods of the prior fiscal year. The increase in revenues were a result of new LED interior lighting opportunities and a robust business climate for the Company's product lines within the transportation industry.

Net income for the three and nine months ended March 31, 2016 were $3.2 million or $0.44 per diluted share and $7.5 million or $1.14 per diluted share, respectively.

Financial Statements and Management's Discussion & Analysis

This news release should be read in conjunction with Pacific Insight's condensed interim consolidated financial statements for the quarter ended March 31, 2016 and the related Management's Discussion and Analysis, which can be found on sedar.com.

About Pacific Insight

Pacific Insight Electronics Corp (TSX: PIH) is a global solutions provider offering design, development, manufacturing and delivery of electronic products and full service solutions to the automotive and commercial vehicle markets. We provide OEMs as well as Tier 1 and Tier 2 customers with a range of cost competitive products including LED lighting systems, electronic control modules and wire harnesses. Please visit our new website at pacificinsight.com.

The information in this news release was prepared in accordance with International Financial Reporting Standards ("IFRS"). To view the full June 30, 2015 Audited Consolidated Financial Statements and Management's Discussion & Analysis please visit sedar.com. Email enquiries may be sent directly to investor@pacificinsight.com or via telephone: 1-800-995-1155. Pacific Insight is listed on the Toronto Stock Exchange and its trading symbol is PIH.

SOURCE Pacific Insight Electronics Corp.

For further information: Investor Relations, investor@pacificinsight.com, 1.800.995.1155


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