3rd Quarter Results

About this update from Globalworth Real Estate Investments Limited

[{"type":"text","content":"\n \n Genesis Worldwide Inc. Announces Record Third Quarter Fiscal 2007 Results\n\n 61% Growth in Revenue Over Third Quarter 2006 and 40% Growth in Revenue\n Over Second Quarter 2007\n\n MISSISSAUGA, ON, Nov. 7 /CNW/ - Genesis Worldwide Inc. (\"Genesis\" or the\n\"Company\"), (TSX/AIM: GWI), a leading provider of 'green' structural building\ntechnology using light steel, is pleased to announce its financial results for\nthe third quarter ended September 30, 2007. The Company reports its financial\nstatements in accordance with Canadian generally accepted accounting\nprinciples (\"GAAP\") and reports in Canadian dollars.\n The Company's unaudited interim consolidated Financial Statements and\nManagement's Discussion and Analysis for the three and nine months ended\nSeptember 30, 2007, are filed with the Canadian securities regulatory\nauthorities, and can be accessed at www.sedar.com.\n\n Financial Highlights\n\n - Total revenue increased 61% in the third quarter ended September 30,\n 2007 to $7,037,823, compared to $4,365,710 for the third quarter of\n 2006. This represents growth of 40% from the second quarter of 2007.\n\n - Revenue for the licensing division recorded for the third quarter of\n 2007 was the highest revenue recorded in the Company's history.\n Revenue from this division for the third quarter of 2007 was\n $3,239,065, reflecting an increase of 998%, compared to $294,866 for\n the same period a year ago. This represents growth of 21% from the\n second quarter of 2007.\n\n - Revenue from the structural products division for the third quarter\n of 2007 was $3,798,758, compared to $4,070,844 for the third quarter\n of 2006. Compared to the second quarter of 2007, revenue from this\n division increased by 62%. The decrease of 7% in this quarter,\n compared to the third quarter of 2006, was due mainly to the training\n required for new employees after the Company relocated its\n manufacturing operations to its new facility in Vaughan, Ontario.\n\n - Overall contribution margin for the third quarter of 2007 increased\n to $2,486,840, compared to $324,069 for the same period in 2006. This\n improvement of 668% is a direct result of increased licensing\n activities and an improvement in the contribution margin for\n structural products. Contribution margin for structural products for\n the third quarter of 2007 was 18.3%,...

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