BURNABY, BC, Jan. 27 /CNW/ - International Water-Guard Industries Inc.
today announced its financial results for the first quarter fiscal 2011
ended December 31, 2010.
The Company reported sales of $1,114,089 compared to $1,030,355 for the
same quarter of the previous year. Overall sales were higher, despite
the decreasing value of the U.S. dollar. First quarter net earnings
were $103,243 compared to $41,669 in the prior year.
"IWG was profitable despite a still challenging business environment and
adverse exchange rate," said David Fox, IWG's president & CEO. "We
continue to focus on new opportunities as we leave the recession, and
look forward to an improving business aviation climate as the year goes
on," he added.
The results for the quarter provide 0.3¢ net earnings per share in the
current quarter compared to net earnings of 0.1¢ per share in the first
quarter of the prior year on both a basic and fully diluted basis. The
full version of the Company's financial statements can be viewed at www.sedar.com and on IWG's website.
International Water-Guard is a Canadian aerospace company focusing on
aircraft potable water treatment and full water system solutions. IWG
has expertise in all aspects of water treatment, and has the products
and know-how to provide high quality water for passengers and crew, and
light weight, space saving solutions for the aircraft operator.
On behalf of the Board of Directors
International Water-Guard Industries Inc.
"David C. Fox"
President and CEO
This news release contains certain forward looking statements that
reflect the current views and/ or expectations of IWG with respect to
its performance, business and future events. Such statements are
subject to a number of risks, uncertainties and assumptions, which may
cause actual results to be materially different from those expressed or
implied. IWG assumes no future obligation to update these forward
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
SOURCE International Water-Guard Industries Inc.
For further information:
TSX VENTURE: IWG
For further information contact:
| International Water-Guard Industries Inc. |
Unit One - 3771 North Fraser Way,
Burnaby, BC V5J 5G5 Canada
Tel: (604) 255-5555, 1-800-667-0331,
Fax: (604) 255-5685
|Investor Relations: The Howard Group Inc.|
Bob Beaty / Grant Howard
Toll Free: 1-888-221-0915