Pioneering Announces 2010 Second Quarter Results

Reports a Profit in Q2 2010 and its Eighth Consecutive Quarter of Revenue Growth


MISSISSAUGA, ON, May 31 /CNW/ - Pioneering Technology Corp., TSX-V:PTE ("Pioneering" or the "Company"), an energy smart product innovation and consumer goods manufacturing company, announced its 2010 second quarter results for the period ended March 31, 2010. During the period the Company reported its third consecutive quarter of operating profit and its eighth consecutive quarter of revenue growth. Detailed results are available under the Company's profile on SEDAR (

Q2 revenue has increased 23% versus Q1 and is up over 229% versus the same period last year. STE unit sales have increased 34% versus Q1 and are up over 334% versus 2009.

For the first six months ended March 31, 2010, Pioneering revenue has surpassed total 2009 revenues and Safe-T-element (STE) unit sales for the first six months are ahead of total 2009 unit sales by 45%. Revenues for the rolling 12 months (April 1 2009 to March 31, 2010) are just over $2.4 million.

The STE sales pipeline for the balance of the year is strong and the imminent introduction and advance orders for the roll out of the Company's new Safe-T-sensor technology suggests a very positive outlook.

    Q1 2010 and year-to-date Financial Summary ($'000's)
                                  Q2 2010    Q2 2009    2010 YTD    2009 YTD
    TOTAL REVENUE                    $761       $231      $1,380        $404
    Expenses                         $338       $350        $633        $557
    Operating income (loss)          $104      $(215)       $203       $(312)
    Net income (loss)                 $28      $(224)        $94       $(337)
    Net income per share (loss)    $0.001     $(0.02)     $0.005      $(0.03)

The statements made in this press release include forward-looking statements that involve a number of risks and uncertainties. These statements relate to future events or future performance and reflect management's current expectations and assumptions. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements, such as the economy, generally, competition in the Company's target markets, the demand for the Company's products, the availability of funding, theefficacy of the Company's technology and governmental regulation. These forward-looking statements are made as of the date hereof an, except as required by applicable law, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. ctual events or results could differ materially from the Company's expectations and projections.

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy and accuracy of this release.


For further information: For further information: contact Kevin Callahan, President and CEO of the Company, at (905) 712-2061 x222

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