Business
AFS announces second quarter 2009 profit
CALGARY, Aug. 19 /CNW/ - Alternative Fuel Systems (2004) Inc. ("AFS" or the "Company") (TSX Ventu...
About this update from Arctic Fox Lithium Corp
[{"type":"text","content":"\n\n\n\nCALGARY, Aug. 19 /CNW/ - Alternative Fuel Systems (2004) Inc. ("AFS" or\nthe "Company") (TSX Venture: AFX) announced today its operating results for\nthe three month period ending June 30, 2009. Total revenue from product sales,\nengineering and interest was $658,546 compared to $827,685 in the second\nquarter of 2008. Income for the period was $149,283 compared to income of\n$36,662 reported in Q2 of 2008.\n\n\nAFS President and CEO Jim Perry stated "We are very pleased to have made\na profit in the second quarter of 2009. Engineering services revenue and sales\nof engine management systems have increased significantly compared to last\nyear. This increase in higher margin business has offset the decrease we have\nseen in pressure regulator sales."\n\n\nMr. Perry added, "Year-to-date, we are now profitable, due to the strong\nresults in the second quarter. Our business in India continues to grow as\ntheir economy recovers, and we have a number of new initiatives underway that\nmay provide additional revenue streams from that market. With cash and short\nterm investments of more than $1.5 million at the end of the second quarter of\n2009, we are in a good position going forward".\n\n\nForward-looking statements\n\n\nCertain statements in this News Release including but not limited to (i)\nstatements that may contain words such as "anticipate", "could", "expect",\n"seek", "may", "might", "intend", "will", "believe", "should", "project",\n"forecast", "plan" and similar expressions, including the negatives thereof,\n(ii) statements that are based on current expectations and estimates about the\nmarkets in which the Company operates and (iii) statements of belief,\nintentions and expectations about developments, results and events that will\nor may occur in the future, constitute "forward-looking statements" and are\nbased on certain assumptions and analysis made by the Company. Forward-looking\nstatements in this News Release specifically include, but are not limited to,\nstatements with respect to future business opportunities, nature and timing\nthereof; business strategy; expansion and growth of the Company's business and\noperations and other ...