Genesis Worldwide Inc. Announces Record Fourth ...

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[{"type":"text","content":"\n \n\nFOR: GENESIS WORLDWIDE INC.\n\nTSX, AIM SYMBOL: GWI\n\nMarch 3, 2008\n\nGenesis Worldwide Inc. Announces Record Fourth Quarter and Fiscal Year 2007 Results\n\nAchieves Record Sales in Q4 2007 Along With Significant Improvement in Operating Results\n\nMISSISSAUGA, ONTARIO--(Marketwire - March 3, 2008) - Genesis Worldwide Inc. (\"Genesis\" or the\n\"Company\"), (TSX:GWI)(AIM:GWI), a leading provider of 'green' structural building technology using\nlight steel, is pleased to announce its financial results for the fiscal year ended December 31, 2007.\nThe Company reports its financial statements in accordance with Canadian generally accepted accounting\nprinciples (\"GAAP\") and reports in Canadian dollars.\n\nFinancial Highlights\n\n- Net income for the fourth quarter ended December 31, 2007 was $190,833, or $0.01 per common share,\ncompared to a net loss of $1,120,750, or ($0.05) per common share, for the same period in 2006.\n\n- Revenue for the fourth quarter of 2007 was $8,398,114; the highest revenue recorded by the Company\nin any one fiscal quarter, compared to $7,747,918 for the fourth quarter of 2006, and $7,037,823 for\nthe third quarter of 2007.\n\n- Revenue from the structural products division for the fourth quarter of 2007 increased 43% to\n$6,750,398, up from $4,718,481 recorded in the fourth quarter of 2006. Again, this is the highest\nrevenue recorded by this division in any one fiscal quarter.\n\n- Revenue from the licensing division for the fiscal year 2007 was $8,523,405, compared to $3,506,945\nfor fiscal year 2006, representing a growth rate of 143%.\n\n- Revenue for the fiscal year ended December 31, 2007 was $24,443,499, representing an increase of\n20.9% over fiscal year 2006 revenue of $20,212,768.\n\n- Contribution margin for the structural products division for the fourth quarter of 2007 was 26.5%,\ncompared to 3.3% for the same period last year.\n\n- Net loss for the fiscal year ended December 31, 2007 was $4,507,862, or ($0.17) per common share,\ncompared to a net loss of $7,459,612, or ($0.36) per common share, for fiscal year 2006.\n\n/T/\n\nThree Months Ended December 31, 2007\n\n(unaudited, in thousands Structural\n of dollars) Licensing Products Corporate Total\n---------------------------------------------------------------------------\nRevenue $ 1,648 $ 6,750 - $ 8,398\nContribution Margi...

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