Raydan Manufacturing Inc Reports Q2 Results

EDMONTON, Dec. 17 /CNW/ - Raydan Manufacturing Inc. (TSX-V: RDN) has provided financial results for the second quarter ended October 31, 2010. The Company's performance showed some improvement despite the slow Canadian economy and the troubled world economic situation. Management finds reason to be optimistic due to the strength of sales of the custom designed trailer suspension for military purposes (CMSMP-2009) and indications from several long-time customers that sales volumes are expected to increase.

Consolidated revenue increased by 128% to $4,7M, compared to $2.1M for the same six month period last year, demonstrating the growth in sales volumes for the Manufacturing Division and steady sales for the Chassis Modification Division. However, revenue was lower than expected due to the delay in shipping the October 2010 order of the CMSMP-2009 suspensions, representing revenue of $500K and resulting in a loss for the period of 25K. The Company experienced significant growth in revenue compared to the same period in fiscal 2010, placing the loss position just below breakeven. Management considers this to be a significant step in returning to profitability for the Company.

About Raydan Manufacturing Inc

Raydan Manufacturing Inc based in Edmonton, Alberta, develops and produces specialized suspension and coupling systems for trucks, trailers and heavy equipment.  Installations are completed at the Company's chassis modification centre in either Alberta or Ontario. Established in 1992, Raydan exports its innovative, high-quality products to end-users and original equipment manufacturers (OEMs) in the heavy-duty truck, truck crane, fire/rescue and other severe use sectors around the world.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

This new release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. Potentially, many factors could cause our actual results to vary materially from those described herein as intended, planned, anticipated or expected. Raydan Manufacturing Inc. does not intend and does not assume any obligation to update these forward-looking statements.

SOURCE RAYDAN MANUFACTURING INC.

For further information: For further information:

Raydan Manufacturing Inc
Joan Richardson 
Tel: 780-955-2859
Toll Free: 1-888-472-9326 
jrichardson@raydanmfg.com 
www.raydanmfg.com 

Organization Profile

RAYDAN MANUFACTURING INC.

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