TORONTO, May 10 /CNW/ - Luxell Technologies Inc. (TSX:LUX) today announced that revenues for the three months ending February 28, 2007 were $801,389, as compared with $1,493,284 for the three months ended February 28, 2006. The net loss for the quarter was $1,677,590 (($0.04) per share) compared to a loss of $1,609,215 (($0.04) per share) for the three months ended February 28, 2006. Revenues for the second quarter resulted exclusively from high performance display product shipments.
Revenues for the six-month period ended February 28, 2007 were $1,528,321 compared to $1,787,264 for the same period last year. The net loss for the six months was $3,768,958 or $0.08 per share compared to a loss of $3,661,635 or $0.08 per share for the same period in fiscal 2006.
Second Quarter Highlights included:
- a multi-year contract valued at 2.5 Million Euro for a next phase LoadMaster designed for the Airbus A400M; - a 4ATI product line order valued at over 1 Million Euro; - a contract extension valued at over 1.2 Million Euro with display product destined for the EuroFighter program.
In commenting on the second quarter results, Alec Couckuyt, Luxell's CEO, said that "Despite the significant challenges the Company has had to deal with through the last six months, we are actually very encouraged by the confidence our customers have shown in the specialized ATI and Rectangular display products we are now shipping. We are quite optimistic that the balance of the year will turn out as projected in our business plan."
Complete details of the Company's unaudited second quarter financial statements for fiscal 2007 will be found at www.sedar.com.
About Luxell
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Luxell designs, manufactures and licenses flat panel display technologies and solutions for defence and avionics industries. More information can be found at www.luxell.com. (C) Luxell Technologies Inc., Luxell and Black Layer are trademarks of Luxell Technologies Inc. All other company and/or product names are trademarks and/or registered trademarks of their respective manufacturers.
%SEDAR: 00008266E