Cymat issues modified 2008 year-end results

    Listing: TSX
    Symbol: CYM

    TORONTO, July 24 /CNW/ - Cymat Technologies Ltd. (TSX: CYM), a
Toronto-based manufacturer and licensor of stabilized aluminum foam ("SAF")
products, targeting the automotive, architectural and blast mitigation
markets, announced a revision to its press release dated July 23, 2008,
involving a minor accounting reclassification.


    Combined revenue for the 12 months ended April 30, 2008 remained at
$2.9 million, while the increase from the previous 12 month period decreased
from 36 percent to 28 percent. The adjustment was a consequence of the
reclassification of commissions paid on sales in the previous year from
revenue to plant operating costs, in order to provide a consistent
year-over-year comparison of results. For the same reason, revenue for the
quarter ended April 30, 2008 is now reported as $0.4 million, a decrease of 62
percent from revenue in the same quarter in 2007. Quarterly revenue and the
percentage decrease from 2007 were reported in the previous release as $0.5
million and 45 percent respectively.
    The annual financial statements, management discussion and analysis and
annual information form have been filed on SEDAR. Cymat Technologies Ltd.
trades on the TSX stock exchange under the trading symbol CYM.

    About Cymat:

    Cymat develops innovative materials for industry. The company has
worldwide rights, through patents and licenses, for producing Stabilized
Aluminum Foam. The ultra-light metallic foam is manufactured by bubbling gas
through molten alloyed aluminum containing a dispersion of fine ceramic
particles and can be produced as either Near-net Shapes or Flat Panels. The
result is a revolutionary material with a wide array of features including
very low density, mechanical energy absorption, thermal and acoustic
insulation, is recyclable, time and temperature insensitive and has a
relatively low cost of production. Cymat is collaborating with a number of
partners spanning the automotive, architectural and blast mitigation
industries. For further information, visit the Web site

    The foregoing press release contains forward-looking statements relating
to the development of markets, development programs, future revenues and
improvements in technology, which are subject to important risks and
uncertainties. The results or events predicted in these statements may differ
materially from actual results or events. Factors which could cause results or
events to differ from current expectations include the availability of
funding, existing and future relationships with suppliers and manufacturers,
the results of research and development activities, risks of technological
breakthroughs that make Cymat stabilized aluminum foam less attractive, risks
relating to the breadth, scope and enforceability of intellectual property
rights, general industry and market conditions, availability of qualified
personnel, and reliance on co-development partners. For additional information
with respect to these and other factors, see the reports filed by Cymat
Technologies Ltd. with the Ontario Securities Commission. Cymat Technologies
Ltd. disclaims any intention or obligation to update or revise any
forward-looking statements.

    %SEDAR: 00024103E

For further information:

For further information: Investors and Media: Michael Liik, Executive
Chairman, Cymat Technologies Ltd., Tel: (905) 696-2424, Email:;
Trevor Sandler, Chief Financial Officer, Cymat Technologies Ltd., Tel: (905)
696-2427, Email:

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890