IWG Announces First Quarter results - Fiscal 2011

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 looking statements.

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:

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

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International Water-Guard Industries Inc.

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