CALGARY, Jan. 25 /CNW/ - Winalta Inc. is pleased to report its operating
results for the year ended October 31, 2007.
EBITDA increased to a record $16.2 million on revenues of $104.9 million
for the year ended October 31, 2007 compared to a loss of $368,000 on revenues
of $77.5 million (restated) in 2006. This reflects substantial sales in the
community development division, substantially improved margins on product sold
and acquisition and growth of profitable operations.
The Company realized gross profit on sales of $27.0 million compared to
$8.2 million (restated) in 2006. The Company reports net earnings of
$4.6 million, or $0.16 per share for the year ended October 31, 2007, up from
a net loss of $4.8 million and a loss of $0.36 per share for the year ended
October 31, 2006.
"This has been a turnaround year for the company, and I am proud to
release our year end results that reflect the hard work of everyone at
Winalta. Our new business strategy is now fully implemented and in 2008 we see
growth both through the execution of our current plan and through strategic
acquisitions." says Artie T. Kos, President and CEO, Winalta Inc.
Winalta Inc. is a land developer in western Canada and a producer of
manufactured and modular CSA certified homes and site-built homes. In
addition, Winalta manufactures and rents industrial trailers and camps.
The financial results for the year ended October 31, 2007 are now
released and available at www.sedar.com and on the company website
Winalta Inc. shares trade on the TSX Venture Exchange under the symbol
For further information:
For further information: Artie T. Kos, President and CEO, Winalta Inc.,