NISKU, AB, March 31 /CNW/ - Garneau Inc. (GAR-TSX) today filed its Annual Information Form and audited Consolidated Financial Statements and related Management's Discussion and Analysis for the year ended December 31, 2008.
Copies of these documents are available electronically at www.sedar.com or the Company's website at www.garneau-inc.com.
Selected Annual Information --------------------------- (In thousands, except per share data) ------------------------------------------------------------------------- Year Ended December 2008 December 2007 December 2006 ------------------------------------------------------------------------- Total Revenues $17,287 $20,161 $57,042 ------------------------------------------------------------------------- Net Earnings (Loss) (6,661) (4,728) 947 ------------------------------------------------------------------------- Basic Earnings (Loss) per Share (0.55) (0.39) 0.08 ------------------------------------------------------------------------- Diluted Earnings (Loss) per Share (0.55) (0.39) 0.08 ------------------------------------------------------------------------- Total Assets 26,558 29,885 39,571 ------------------------------------------------------------------------- Long Term Financial Liabilities NIL 118 241 ------------------------------------------------------------------------- Garneau's Notice of Annual General Meeting and Management Information Circular are expected to be mailed to Garneau Inc.'s common shareholders in April. About Garneau Inc. ------------------
Garneau Inc's primary business has been the application of high performance protective coating and linings for oil and gas pipeline protection. The corporation also designs and fabricates oilfield equipment for both domestic and international markets. With over 30 years of operating experience, Garneau Inc. has developed a significant level of expertise and is well known for innovative technology. The company's website can be accessed at www.garneau-inc.com.
This report includes forward looking statements that are based on the Garneau's current expectations and therefore are subject to uncertainties such as the level of industry drilling and coating activity, foreign exchange fluctuations and world wide economic conditions that may cause actual results to differ materially.
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