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Cymat Announces Preliminary Second Quarter Results for Fiscal 2007
Cymat Announces Preliminary Second Quarter Results for Fiscal 2007.
About this update from Cymat Technologies Ltd
[{"type":"text","content":"\n\n\n\nListing: TSX\n\n\nSymbol: CYM\n\n\nTORONTO, Dec. 4 /CNW/ - Cymat Technologies Ltd. today announced\npreliminary results for the second quarter of fiscal 2007. Cymat expects to\nreport second quarter fiscal 2007 revenue in the range of $430,000 compared to\nrevenue of approximately $142,000 reported in the first quarter of fiscal\n2007.\n\n\nCymat flat panel revenues increased 270% over the prior quarter and 470%\ncompared to the corresponding quarter in fiscal 2006.\n\n\nOver the past two quarters, Cymat has significantly increased revenues\nfrom Alusion, its flat panel architectural line. This increase validates\nCymat's recently announced strategy to transition from a research-based to a\nrevenue-focused company.\n\n\nCymat's backlog for Alusion was $1.2 million at the end of the second\nquarter.\n\n\n\"Demand for our architectural products continues to grow along with our\nbacklog\" said Chris Skillen CEO. \"Substantial orders from both our European\nand North American customers are driving this revenue growth and we expect\ndemand to remain buoyant,\" he added.\n\n\nComplete results for Cymat's second quarter of fiscal 2007 will be\nreleased in mid-December.\n\n\nAbout Cymat:\n\n\nCymat develops innovative materials for industry. The company has\nexclusive worldwide rights, through patents and licenses, for producing\nStabilized Aluminum Foam. The ultra-light metallic foam is manufactured by\nbubbling gas through molten-alloyed aluminum containing a dispersion of fine\nceramic particles and can be produced as either Near-net Shapes or Flat\nPanels. The result is a new strategic material with a wide array of benefits,\nincluding a good stiffness-to-weight ratio, mechanical energy absorption at\nlow stress levels, thermal and acoustic insulation, recyclability and\nrelatively low cost of production. Cymat is collaborating with a number of\npartners spanning the automotive, transportation, blast mitigation and\nconstruction industries.\n\n\nThe foregoing press release contains forward-looking statements relating\nto the development of markets, development programs, future revenues and\nimprovements in technology, which are subject to important risks and\nuncertainties. The results or events predicted in these statements may differ\nmaterially from actual results or events. Factors which could cause results or\nevents to...