Cymat Reports Fiscal 2014 First Quarter Results

About this update from Cymat Technologies Ltd

[{"type":"text","content":"\n\n\nListing: TSX\nSymbol: CYM\n\n\nTORONTO, Sept. 13, 2013 /CNW/ - Cymat Technologies Ltd., a materials\n technology company focused on the military, automotive and\n architectural industries, announced its results for the quarter ending\n July 31, 2013.\n\n\nHighlights for the Quarter\n\n\n\nLoss from operations for the quarter was $298,000 compared to a loss of\n $529,000 for the same quarter of the previous fiscal year,\n predominately as the result of savings in employee compensation\n expenses as the result of reduced head count.\n\n\n\n\nRevenues for the quarter decreased by approximately $128,000, or 37%, as\n the result of decreased Alusion™ transactional sales to European\n customers.\n\n\n\n\n\n \n\n\n\n\nKey Financial Information\n\n\nThree Months Ended July 31\n\n\n\n\n \n\n\n2013\n\n\n2012\n\n\n\n\n \n\n\n($)\n\n\n($)\n\n\n\n\n \n\n\n \n\n\n \n\n\n\n\nInterim Statements of Operations\n\n\n \n\n\n \n\n\n\n\n \n\n\n \n\n\n \n\n\n\n\nRevenue\n\n\n214,694\n\n\n342,922\n\n\n\n\nPlant operating expenses\n\n\n277,583\n\n\n419,245\n\n\n\n\nResearch and material testing expense\n\n\n2,007\n\n\n2,509\n\n\n\n\nSelling, general and administrative expenses\n\n\n232,939\n\n\n450,023\n\n\n\n \n \n \n\n\n\nLoss from operations\n\n\n(297,835)\n\n\n(528,855)\n\n\n\n\nNet loss\n\n\n(302,972)\n\n\n(609,998)\n\n\n\n\n \n\n\n \n\n\n \n\n\n\n\nInterim Statements of Cash Flows\n\n\n \n\n\n \n\n\n\n\n \n\n\n \n\n\n \n\n\n\n\nCash used in operating activities\n\n\n(51,429)\n\n\n(294,451)\n\n\n\n\n \n\n\n \n\n\n \n\n\n\n\n\n\n\nOutlook\n\n\nThe Outlook remains relatively unchanged from the July disclosure in\n Management's Discussion and Analysis for the year ended April 30,\n 2013.  The Company has continuing expectations for the inclusion of\n Alusion™ in significant architectural projects. As reported previously,\n there has been some slippage in the expected timing of material\n delivery for such projects in Europe, owing to uncertainties and\n austerity measures impacting the European economy.  However, the\n Company expects architectural sales to continue to provide the bulk of\n Cymat revenue, assisted by the building of its distributorship with the\n Latin American Division of Hunter Do...

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