Business
Luxell Reports Second Quarter Results for Fiscal 2005
Luxell Reports Second Quarter Results for Fiscal 2005.
About this update from Newlox Gold Ventures Corp.
[{"type":"text","content":"\n\n\n\n\nTORONTO, April 11 /CNW/ - Luxell Technologies Inc. (TSX:LUX) today\nannounced that revenues for the second quarter of fiscal 2005, ending\nFebruary 28, 2005, were $416,553, as compared to $444,489 for the same period\nin the prior fiscal year. The net loss for the second quarter was $1,931,236\nor $0.05 per share compared to a net loss of $1,915,149 or $0.05 per share for\nthe second quarter of 2004. Loss before interest, taxes, depreciation and\namortization (EBITDA) for the second quarter was $1,670,813 compared to a loss\nof $1,504,254 for the same period last year.\n\nSecond Quarter Highlights:\n\n- Captured a full production contract for its Maintenance Data Panel\n Displays (MDPDs), for use on the Eurofighter (EFA) program. The award\n was received from Indra Systemas (INDRA) of Madrid, Spain, in two\n stages, the first in this quarter, and the second immediately after\n the close of the period, for a total value in excess of CAD $3M.\n\n- Strengthened its Intellectual Property (IP) portfolio by acquiring a\n US patent and advancing existing filings for its Generation I and II\n Black Layer(TM) technologies, the second of which has specific\n relevance in emerging Organic Light Emitting Diode (OLED) display\n markets.\n\n- Launched a new family of high performance, active matrix LCD display\n products, designed specifically for land-based vehicle usage. Initial\n contracts for this product type were secured from Denel/DLS Systems\n and a major U.S. contractor.\n\n- Completed new equity-based financing, yielding gross proceeds of\n CAD $2,470,967, via a fully subscribed rights offering.\n\n- Advanced the commercialization of Black Layer(TM) and OLED\n technologies by entering into an understanding with IMC Capital\n Corporation (IMC) of Hong Kong, which established a strategic\n partnership for development of manufacturing capability for\n production of display products based upon these concepts and IP.\n\nRevenues for the six-month period ending February 28, 2005 were\n$1,291,761, as compared to $1,067,795 for the same period last year. The net\nloss for the six months was $3,725,134 or $0.09 per share compared to a net\nloss $3,728,707 or $0.10 per share for the same period of fiscal 2004. EBITDA\nfor the six months was a loss of $3,185,445 compared to a loss of $2,903,624\nfor the same period last year.\nCommen...