PowerComm Inc. releases financial results for nine month period ended December 31, 2006 and nine months MD&A



    EDMONTON, March 1 /CNW/ - PowerComm Inc., an ISO 9001:2000 Registered
Company, today announced its financial results for the third quarter and nine
months ended December 31, 2006, of its fiscal 2007 year.
    In summary the nine month period showed continued growth in all parts of
the company's operations and resulted in increases in both revenue and profit.
Sales for the nine months grew to slightly over $46 million, or 127% of the
full fiscal year ended March 31, 2006.
    The following table sets out selected consolidated financial information
for the period. Additional financial information may be found in the company
filings on Sedar together with the full text of the MD & A.

    
    -------------------------------------------------------------------------
                Consolidated Summary of Financial Information
    -------------------------------------------------------------------------

                              Nine month period ended      Fiscal Year ended
                              December 31, 2006 (CDN$,  March 31, 2006 (CDN$,
                                  except share amount)   except share amount)
    ------------------------- ------------------------ ----------------------
    Revenue                                46,084,043             36,380,300
    Expenses                               42,343,368             33,550,755
    Net earnings (loss)
     before tax                             3,756,659                (99,961)
    Net earnings (loss),
     after tax                              2,519,787               (100,015)
    Net earnings (loss) per
     share (basic  diluted)                       .06              (1,000.15)
    Cashflow from operations
     before changes in
     non-cash working capital               3,114,578                 34,771
    Cashflow per share from
     operations before changes
     in non-cash working
     capital (basic diluted)                      .07                 347.71
    Working capital                         4,502,857                289,630
    Cash and Cash Equivalents                  95,767                 30,788
    Other Current Assets                   18,321,512             11,576,896
    Property, Plant & Equipment             4,104,361                585,180
    Liabilities                            15,640,734             12,317,430
    Shareholders equity:
      Amount                                9,240,781               (115,078)
      Number of Common Shares              51,338,825                    100
    -------------------------------------------------------------------------
    


    "We are pleased with the nine month results," noted Wayne Rutherford,
PowerComm Inc. President and CEO "the company continues to show steady and
consistent growth in revenue and profitability," he added.

    About PowerComm Inc.
    Founded in 1995 in Lloydminster, PowerComm Inc. is now headquartered in
Edmonton and has thirteen offices in Alberta. It employs over 425 people in
its electrical/instrumentation maintenance, electrical/instrumentation
construction, valve servicing, and the Redhill/Concorde manufacturing
divisions.
    The unaudited interim consolidated financial statements with accompanying
notes and Management's Discussion and Analysis are filed on SEDAR.

    Reader Advisory
    The news release contains certain forward-looking statements, including
management's assessment of future plans and operations and capital
expenditures and the timing thereof, that involve substantial known and
unknown risks and uncertainties, certain of which are beyond PowerComm Inc.'s
control. Such risks and uncertainties include, without limitation, risks
associated with the Corporation's ability to market successfully to current
and new customers; supply and demand for PowerComm Inc.'s services and
products and industry activity levels; capital expenditure programs;
projections of commodity prices and costs; the Corporation's ability to obtain
material and equipment from suppliers; operating risk liability; expansion of
services and products by internal growth or acquisition; the Corporation's
ability to obtain additional financing on satisfactory terms; the impact of
general economic and industry conditions; changes in laws and regulations
(including the adoption of new environmental laws and regulations) and changes
in how they are interpreted and enforced; competitive conditions; the lack of
availability of qualified personnel or management; fluctuations in foreign
exchange or interest rates, stock market volatility; and obtaining required
approvals of regulatory authorities. PowerComm Inc.'s actual results,
performance or achievements could differ materially from those expressed in,
or implied by, these forward-looking statements and, accordingly, no
assurances can be given that any of the events anticipated by the
forward-looking statements will transpire or occur, or if any of them do so,
what benefits, including the amount of proceeds, that PowerComm Inc. will
derive therefrom. Readers are cautioned that the foregoing list of factors is
not exhaustive. All subsequent forward-looking statements, whether written or
oral, attributable to PowerComm Inc. or persons acting on its behalf are
expressly qualified in their entirety by these cautionary statements.
Furthermore, the forward-looking statements contained in this news release are
made as of the date of this news release and PowerComm Inc. does not undertake
any obligation to update publicly or to revise any of the included
forward-looking statements, whether as a result of new information, future
events or otherwise, except as may be required by applicable securities laws.





For further information:

For further information: J.D. Snowdon, Executive Vice President,
Corporate Services, at (780) 465-7038, or at info@powercomm.ab.ca

Organization Profile

POWERCOMM INC.

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