CALGARY, Feb. 11 /CNW/ - Winalta Inc. is pleased to report its operating
results for the year ended October 31, 2008. EBITDA increased to a record
$19.7 Million on revenues of $101.5 Million for the year ended October 31,
2008 compared to EBITDA of $16.2 Million on revenues of $104.9 Million in
2007. These results reflect Winalta's first year of diversified operations,
with increased profitability and revenue growth in the Industrial division and
increased profitability in the Homes division despite reduced sales.
The Company realized gross profit on sales of $34.3 Million compared to
$27.4 Million in 2007. The Company reports net earnings of $5.3 Million, or
$0.15 per share for the year ended October 31, 2008, up from net earnings of
$4.6 Million, or $0.16 per share for the year ended October 31, 2007.
"I am proud of Winalta's commendable growth during this past year. Our
diversified operations helped increase profitability as the company had its
first year streamlined into two separate entities, Industrial and Homes. Going
into 2009, we acknowledge that we are in difficult economic times and are
prepared to make bold moves to adjust and grow the company. Fortunately, we
have an extremely committed and experienced management team and Board of
Directors, who have been through these cycles before and understand the
challenges ahead" says Artie T. Kos, President and CEO, Winalta Inc.
Winalta Inc. is a fully integrated company with two main divisions:
Industrial and Homes. The Industrial Division manufactures and leases
industrial accommodations, provides construction services that include
excavating, aggregate trucking and paving. The Homes Division manufactures CSA
approved homes, develops land and builds communities.
The financial results for the year ended October 31, 2008 are now
released and available at www.sedar.com and on the company website
Winalta Inc. shares trade on the TSX Venture Exchange under the symbol
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; Austin Fraser, VP Corporate Development and
Investor Relations, Tel: (403) 475-4698