CALGARY, June 27 /CNW/ - Winalta Inc. (Winalta) is pleased to announce
its fifth consecutive profitable quarter under new management. The Company
reports EBITDA of 6.2 million ($0.17 per share fully diluted) on revenue of
$26.3 million for the three months ended April 30 compared to and EBITDA of
2.2 million (0.08 per share fully diluted) on revenue of $20.5 million in
2007. Net earnings for the quarter were $2.3 million compared to $773,000 in
EBITDA for the six months ended April 30, 2008 was $10.1 million (22% of
revenue) relative to $2.1 million (6% of revenue) in 2007 and net earnings
were $3.1 million relative to a loss of $216,000 in 2007.
Selected Financial Highlights (000's, except per share amounts and
Three months ended April 30
Revenue $ 26,326 $ 20,510
Net earnings (loss) $ 2,339 $ 773
Earnings (loss) per share $ 0.07 $ 0.01
EBITDA $ 6,223 $ 2,200
EBITDA per share $ 0.17 $ 0.08
Six months ended April 30
Revenue $ 46,563 $ 37,294
Net earnings (loss) $ 3,108 $ (216)
Earnings (loss) per share $ 0.09 $ (0.03)
EBITDA $ 10,067 $ 2,105
EBITDA per share $ 0.28 $ 0.07
Revenues generated from new business segments in the construction and
oilfield divisions, expanded scope of operations and product sales in the
Company's community development operations contributed to increased revenue
levels and enhanced profitability. Gross profit levels reflect improved
margins in the community development and industrial manufacturing operations
with a continuing focus on profitability in all divisions.
Revenue for the three months ended April 30, 2008 exceeded comparative
2007 levels with revenue realized from an expanded oilfield rental fleet in
addition to revenue from construction operations acquired in 2007.
Homes Division margins increased significantly from 2007, driven by
increased prices and margins realized on sales in Fort McMurray, Alberta.
Comparative results in the Industrial Division reflect the addition of
construction operations and elimination of losses in the industrial
Additional information and Management's Discussion and Analysis are
available on SEDAR (www.sedar.com).
Winalta Inc. is a fully integrated company with two main divisions: Homes
and Industrial. The Homes Division manufactures CSA approved homes, develops
land and builds communities. The Industrial Division manufactures and leases
industrial accommodations, provides construction services that include
excavating, aggregate trucking and paving.
Winalta Inc. shares trade on the TSX Venture Exchange under the symbol
The TSX Venture Exchange has neither approved nor disapproved the
contents of this news release. The TSX Venture Exchange does not accept
responsibility for the adequacy or accuracy of this release.
The words "believe", "expect", "intend", "anticipate", or any variation
of such words and similar expressions identify forward-looking statements, but
their absence does not mean that the statement is not forward-looking. These
statements are not guarantees of future performance and are subject to certain
risks, uncertainties and assumptions that are difficult to predict. Readers
are cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date of this news release. Winalta undertakes no
obligation to publicly update or revise any forward-looking statements or
information, whether as a result of new information, future events or
otherwise, except as required by securities laws.
For further information:
For further information: Business Contact, Artie T. Kos, President &
CEO, Winalta Inc., firstname.lastname@example.org, Tel: (780) 960-6900, Fax: (780)
962-9523, www.winaltainc.com; Investor Relations, Austin Fraser, Director
Investor Relations and Communications, Tel: (403) 475-4698