Luxell Reports Results for Fiscal 2007

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[{"type":"text","content":"\n\n\n\nTORONTO, Jan. 4 /CNW/ - Luxell Technologies Inc. (TSX:LUX) today\nannounced results for fiscal 2007. The Company reported that revenues for the\nyear ending August 31, 2007 were $3,736,933, as compared with $3,328,352 for\nthe prior fiscal year. The total net loss for 2007 was $4,294,533 or $0.09 per\nshare compared to a net loss of $8,775,586 or $0.20 per share for 2006.\n\n\nRevenues for the fourth quarter ended August 31, 2007 were $1,315,000\ncompared to $838,000 for the same period in 2006. The net operating loss for\nthe fourth quarter ended August 31, 2007 was $1,473,000 versus a loss of\n$3,237,000 for the fourth quarter of 2006.\n\n\nOn October 18, 2006, the majority of the Company's creditors voted in\nfavour of a proposal (submitted as a Notice of Intent to make a proposal under\nthe Bankruptcy and Insolvency Act (Canada) on August 28, 2006, (the\n"Proposal")) to its creditors and this was subsequently approved by the\nSuperior Court of Justice on November 7, 2006.\n\n\nAnthony DeCristofaro, Luxell's Chairman said, "While this has been a very\nchallenging year with numerous changes, shareholders can look at the results\nand see they are trending in the right direction. The Board of Directors is\nextremely pleased to see what our new management team, under Jean-Louis\nLarmor's leadership is achieving as the Company continues its restructuring\nand movement towards profitability."\n\n\nFor more details please see the complete filings posted on the Sedar web\nsite.\n\n\nAbout Luxell\n\n\nLuxell designs, manufactures and licenses flat panel display technologies\nand solutions for defence 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\n%SEDAR: 00008266E\n\n\n","length":2019,"tagName":"div"}]

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