Genesis Worldwide Announces Second Quarter Fisc...

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[{"type":"text","content":"\n \n\nFOR: GENESIS WORLDWIDE INC.\n\nTSX, AIM SYMBOL: GWI\n\nAugust 6, 2008\n\nGenesis Worldwide Announces Second Quarter Fiscal 2008 Results\n\nStrong New Signed Customer Orders of $18.7 Million Achieved During the Quarter\n\nMISSISSAUGA, ONTARIO--(Marketwire - Aug. 6, 2008) - Genesis Worldwide Inc. (\"Genesis\" or the \"Company\"),\n(TSX:GWI)(AIM:GWI), a leading provider of 'green' structural building technology using light steel, announces\nits financial results for the second quarter ended June 30, 2008. The Company reports its financial statements\nin accordance with Canadian generally accepted accounting principles (\"GAAP\") and reports in Canadian dollars.\n\nFinancial Highlights\n\nSix Months Ended June 30, 2008\n\n- Total revenue for the first six months ended June 30, 2008 increased 27.8% to $11,508,181, compared to\n$9,007,562 for the first half of 2007.\n\n- Revenue for the licensing division for the first six months ended June 30, 2008 increased 25.5% to\n$4,564,489, compared to $3,636,624 for the same period last year.\n\n- Revenue for the structural products division for the first six months ended June 30, 2008 increased 29.3% to\n$6,943,692, compared to $5,370,938 for the first six months of 2007.\n\n- Total contribution margin for the first six months ended June 30, 2008 increased 20.1% to $3,450,469,\ncompared to $2,872,143 for the first six months of 2007.\n\n- Net loss for the six months ended June 30, 2008 was $3,629,145, or ($0.12) per common share, compared to a\nnet loss of $3,825,947, or ($0.18) per common share, for the same period in 2007.\n\n/T/\n\nSix Months Ended June 30, 2008\n------------------------------\n(unaudited, in thousands Structural\n of dollars) Licensing Products Corporate Total\n----------------------------------------------------------------------------\n----------------------------------------------------------------------------\nRevenue $ 4,564 $ 6,944 $ -- $ 11,508\nContribution margin 2,744 707 -- 3,450\nOperating expenses 2,906 2,128 1,366 6,401\nLoss before other expenses (162) (1,422) (1,366) (2,950)\nOther expenses (316) (409) 46 (679)\nNet loss for the quarter (478) (1,831) (1,320) (3,629)\n----------------------------------------------------------------------------\n----------------------------------------------------------------------------\n\n/T/\n\nThree Months Ended J...

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