Galvanic Announces 1st Quarter Report

    CALGARY, Sept. 25 /CNW/ - Galvanic Applied Sciences Inc. (GAV: TSX-V)
announces the following results for its period ending July 31, 2008 and
July 31, 2007.

                                                          Three Months Ended
                                                                July 31
                                                            2008        2007
    Revenue                                            3,177,844   2,832,569
    Gross margin                                       1,129,817     947,289
    Net earnings (loss)                                   60,109    (414,353)
    Net earnings (loss) per share                          $0.00      ($0.03)

    For the three-month period ended July 31, 2008 the Company reported net
earnings of $60,109 or $0.00 per common share compared to a net loss of
$414,000 or $(0.03) per common share recorded in the corresponding prior
period. This turn-around in operating results in the three-month period ended
July 31, 2008 is largely as a result of cost savings realized from the
restructure and reorganization plan previously announced in fiscal 2008,
foreign currency gains as compared to losses in the prior comparative period,
and improvement in gross margin as a percentage of sales.
    Going forward, the company will continue with its operating plan and cost
containment activities and, combined with strong order backlog levels, expects
profitable operations.

    Galvanic Applied Sciences Inc. is an innovative electronic technology
Company that develops instrumentation and manufactures equipment for the
natural gas processing and distribution markets and liquids process markets.
Products include analyzers for sulfur and BTU measurement in gases, electronic
volume correctors and recorders used in combination with commercial natural
gas meters, and tytrators, viscometers, suspended solids and turbidity
analyzers for on-line liquid analysis.

    This Press Release contains certain "forward-looking statements". All
statements, other than statements of historical fact, that address activities,
events or developments that the Company believes, expects or anticipates will
or may occur in the future (including, without limitation, statements
regarding financial and business prospects and financial outlook) are
forward-looking statements. Forward-looking statements are often, but not
always, identified by the use of words such as "seek", "anticipated", "plan",
"continue", "estimate", "expect", "may", "will", "project", "predict",
"potential", "targeting", "intent", "could", "might", "should", "believe" and
similar expressions.
    These forward-looking statements reflect the current expectations or
beliefs of the Company, based on information currently available to the
Company. Forward-looking statements are subject to a number of risks,
uncertainties and assumptions that may cause the actual results of the Company
to differ materially from those discussed in the forward-looking statements
and, even if such actual results are realized or substantially realized, there
can be no assurance that they will have the expected consequences to, or
effects on the Company. Factors that could cause actual results or events to
differ materially from current expectations include, among other things,
changes in general economic and market conditions, changes to regulations
affections the Company's activities, and uncertainties relating to the
availability and costs of financing needed in the future. Any forward-looking
statement speaks only as at the date on which it is made and, except as may be
required by applicable securities laws, the Company disclaims any intent or
obligation to update any forward-looking statement, whether as a result of new
information, future events or results or otherwise. Although the Company
believe that the assumptions inherent in the forward-looking statements are
reasonable, forward-looking statements are not guarantees of future
performance and, accordingly, undue reliance should not be put on such
statements due to the inherent uncertainty therein.
    Forward-looking statements - statements in this press release that are
not historical facts may be considered "forward-looking statements." All
estimates and statements that describe the Company's objectives, goals or
future plans are forward-looking statements. Forward-looking statements
involve inherent risks and uncertainties where actual results could differ
materially from those currently anticipated.

For further information:

For further information: S. Grant Reeves, Chief Executive Officer, (403)
258-9709; or Helen Cornett, Chief Financial Officer, (403) 258-9704, Email:, Website:

Organization Profile

Galvanic Applied Sciences Inc.

More on this organization

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