Luxell Reports 3rd Quarter Results for Fiscal 2008

About this update from Newlox Gold Ventures Corp.

[{"type":"text","content":"\n\n\n\nTORONTO, July 8 /CNW/ - Luxell Technologies Inc. (TSX:LUX) today\nannounced that revenues (unaudited) for the three months ending May 31, 2008\nwere $1,001,731 as compared with $894,034 for the three months ended May 31,\n2007. This is an increase of $107,697 or 12% for the same period a year\nearlier.\n\n\nThe net loss for the quarter was $1,259,983 ($0.02 per share) compared to\na loss of $1,213,455 ($0.03 per share) for the three months ended May 31,\n2007. Revenues for the third quarter continued to result exclusively from the\nhigh performance display products business.\n\n\nRevenues for the nine-month period ended May 31, 2008 were $3,359,672\ncompared to $2,422,355 for the same period last year or an increase of 39%\nfrom 2007 to 2008. The net loss for the nine months was $3,028,141 or\n$0.08 per share compared to a loss of $4,982,413 or $0.11 per share for the\nsame period in fiscal 2007. This is an improvement of 39% for the same\ncomparative period.\n\n\nIn commenting on the 3rd quarter results, Jean-Louis Larmor, Luxell's\nCEO, said that "while we are well aware of the challenges we face in\ncompleting the transformation of the Company, we are also pleased to report\nthat we continued to make operational progress and were able to further reduce\ncosts and improve long-term margins during the fiscal third quarter. We also\nhave several strategic initiatives in place which we expect will shortly have\na positive impact on our ability to achieve profitable long term growth. The\nbusiness activities are growing for LUXELL and we remain confident in the\npromising markets in which we operate."\n\n\nComplete details of the Company's unaudited third quarter financial\nstatements for fiscal 2008 will be found at www.sedar.com.\n\n\nAbout Luxell\n\n\n------------\n\n\nLuxell designs, manufactures and licenses flat panel display technologies\nand solutions for defense and avionics industries. More information can be\nfound at www.luxell.com. (C) Luxell Technologies Inc., Luxell and Black Layer\nare trademarks of Luxell Technologies Inc. All other company and/or product\nnames are trademarks and/or registered trademarks of their respective\nmanufacturers.\n\n\nForward-Looking Statements\n\n\nThis news release contains certain "forward-looking statements" that\nreflect the current views and/or expectat...

More updates from Newlox Gold Ventures Corp.