NELSON, BC, Feb. 14, 2012 /CNW/ - Pacific Insight Electronics Corp. (the "Company" or "PI") (TSX:PIH) announced today the results for the second quarter ended December 31, 2011.
Sales for the second quarter ended December 31, 2011 were $9.263 million, an increase of 14% from $8.122 million for the comparative quarter ended December 31, 2010. Sales for the six months ended December 31, 2011 were $17.670 million, an increase of 10% over $16.014 million, the sales achieved in the comparative 6 month period.
Second quarter results reported a net loss of $8,000 or 0¢ per share compared with a net loss of $166,000 or 3¢ per share in the prior year second quarter. Year to date results for the six months ending December 31, 2011 reported a loss of $439,000 or 7¢ per share compared with a loss of $39,000 or 1¢ per share in the prior year six month period ending December 31, 2010.
Pacific Insight Electronics Corp. ("Pacific Insight") designs, manufactures and delivers electronic products and full service solutions to the automotive, commercial and specialty markets.
The information in this news release was prepared in accordance with International Financial Reporting Standards ("IFRS"). To view the full December 31, 2011 Condensed Interim Consolidated Financial Statements and Management Discussion & Analysis please visit www.SEDAR.com.
THE TSX HAS NOT REVIEWED AND DOES NOT ACCEPT THE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. MANAGEMENT ACCEPTS FULL RESPONSIBILITY FOR THE INFORMATION CONTAINED HEREIN.
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