Business
WGI Heavy Minerals Announces Continued Sales Growth of 9.3% from Q4 2010 and Reports Loss of $0.07 million for Q1 2011
Jun. 10, 2011 (Canada NewsWire Group) -- COEUR D'ALENE, Idaho, June 10, 2011 /CNW/ - WGI Heav...
About this update from Nickel Creek Platinum Corp.
[{"type":"text","content":"\n\n\n Jun. 10, 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\nCOEUR D'ALENE, Idaho, June 10, 2011 /CNW/ - WGI Heavy Minerals,\n Incorporated ("WGI") (TSX: WG) today reported a loss for the quarter\n ending March 31, 2011 of $0.003 per share ($0.07 million) compared to\n earnings of $0.005 per share ($0.13 million) for the same quarter in\n 2010. In order to functionally align and streamline the Company's\n efforts in Europe, the Company restructured the management of its\n German subsidiary, Kominex. The restructuring resulted in the removal\n of the resident Managing Director for Kominex and resulted in\n non-recurring costs of $0.32 million.\n\n\nWGI recorded its highest quarterly revenue in the history of the\n Company, reaching $9.40 million. Corporate revenues have been growing\n quarter over quarter since Q4 2009, increasing 12.8% from Q1 2010 and\n 9.3% from Q4 2010. Overall demand in WGI's markets continued to recover\n from the recessionary trough of 2008-09 with Europe showing more\n progress than other regions. The revenues in Europe were assisted by a\n strong currency during the period. Most markets for garnet and other\n abrasives are strengthening in 2011 from previous year levels; however,\n growth specifically in the waterjet abrasive products is slower than\n the blasting abrasive products. Globally, improved demand and tighter\n supply conditions have stimulated revenue growth for blasting abrasives\n while waterjet abrasives continue to experienc...