Business
MicroPlanet Reports Q1 Results; Sales Increase 59%
Jun. 16, 2011 (Canada NewsWire Group) -- Stock Listing: MP:TSXV Stock Listing (US): MCTYF...
About this update from Medicure Inc.
[{"type":"text","content":"\n\n\n Jun. 16, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nStock Listing: MP:TSXV\nStock Listing (US): MCTYF: OTC \nWeb Site: www.microplanet.com\n\n\nSEATTLE, WA, June 16, 2011 /CNW/ - MicroPlanet, (MP:TSXV & MCTYF:OTC) a\n provider of energy conservation and power quality products, today\n reports interim unaudited consolidated financial results for the\n three-month period ended March 31, 2011 (the 'Quarter"). All dollar\n figures are reported in U.S. currency, unless otherwise stated.\n\n\nQuarter Results\n\n\nMicroPlanet reported sales of $1,025,714, a 59% increase over the Prior\n Year Quarter. Gross margins for the Period were 33%, compared to 31% in\n the Prior Year Quarter. Total operating expenses of $807,409 represent\n a decrease of 38% ($500,700) as compared to the Prior Year Quarter. The\n increased revenue, combined with cost controls, resulted in a 58%\n reduction in the net loss for the Quarter ($466,924), as compared to\n the Prior Year Quarter. Sales for the Quarter consisted of deliveries\n of the Company's Second Generation Low Voltage Regulators (LVR2) to\n energy utilities in Australia and domestic deliveries of first\n generation commercial energy conservation products.\n\n\n"During 1Q 2011 we the delivered best net operating results in\n MicroPlanet history," said Brett Ironside, President and CEO. "We were\n able to ramp back up our production levels taking advantage of\n manufacturing platform upgrades we initiated in 3Q 2010 ...