Business
Pioneering Technology Announces 6th Consecutive Quarter of Operating Profit in Q1, 2011
Mar. 8, 2011 (Canada NewsWire Group) -- (Not for dissemination in the United States of Amer...
About this update from Pioneering Technology Corp.
[{"type":"text","content":"\n\n\n Mar. 8, 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\n(Not for dissemination in the United States of America)\n\n\nThe Company also announces pending sale of its investment in Adenyo \n\n\nMISSISSAUGA, ON, March 8 /CNW/ - Pioneering Technology Corp. of\n Mississauga, Ontario (TSXV: PTE), ("Pioneering" or the "Company" "), an\n energy smart product innovation and consumer goods company, recently\n filed its sixth consecutive quarter with an operating profit (or\n EBITDA) of $10,672 in the first quarter of its fiscal 2011 year, which\n ended December 31, 2010. The Company's unaudited financial statements\n for the quarter, together with its Management's Discussion and Analysis\n of these results, are available for review under the Company's profile\n at www.sedar.com.\n\n\nRevenue for Q1 FY2011 was $609,495, which was relatively unchanged from\n the same period a year ago (Q1 FY2010 - $618,862) and down 5% from the\n immediately preceding quarter (Q4 FY2010 - $641,457). Management\n believes the Company's flat revenue growth is only temporary as the\n sales pipeline of potential orders is strong and continues to grow. The\n Company's ability to grow further has now become constrained by a sales\n resource and channel partnership model that is staffed for delivering\n at the current volume levels. In order to meet the increased demand for\n its product the Company intends to shift its focus in 2011 towards:\n\n\n\n\n\n\nincreasing direct sales res...