PowerComm Inc. reports solid second quarter



    EDMONTON, Nov. 13 /CNW/ - PowerComm Inc. (PCG:TSX) announced its second
quarter earnings today. The corporation had Net Earnings of $159,000, for the
quarter versus a loss of $569,000 in the first quarter. The corporation's
Sales increased almost $2.8 million in the quarter as compared to the first
quarter.
    The corporation had revenue of $23.9 million for the six months compared
to $30.8 million for the same period in the previous year. Despite the drop in
Sales, PowerComm improved Gross Profit as a percentage of Sales. Overhead
costs increased as the Company continues to grow internally and through
acquisition.
    "We have seen the activity levels increase steadily since the first
quarter," said Wayne Rutherford, PowerComm President and CEO, "our
construction backlog has been building steadily and our current volume of
service work is keeping us extremely busy." he continued. "Last year we had
one major construction project that was completed in December, this year the
volume of business is continuing to grow and is expected to remain through the
end of the fiscal year," Mr. Rutherford concluded.
    A complete copy of the financial Statements and the MD&A will be
available at www.sedar.com or on the company web site, www.powercomm.ca.

    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: contact Wayne R. Rutherford, President and
Chief Executive Officer or J.D. Snowdon, Executive Vice President Corporate
Services at (780) 465-7038 or at info@powercomm.ab.ca

Organization Profile

POWERCOMM INC.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890