Revenues Double and Costs Reduced by 20% Compared to Same Quarter Last
Year
TORONTO, Jan. 15 /CNW/ - Luxell Technologies Inc. (TSX:LUX) today announced results for the first quarter of fiscal 2008. The Company reported that revenues for the quarter ending November 30, 2007 were $1,457,406, as compared with $726,932 for the quarter ending November 30, 2006. The total net operating loss for the first quarter of fiscal 2008 was $889,523 or $0.02 per share compared to a net operating loss of $2,091,368 or $0.04 per share the first quarter of fiscal 2007.
Luxell incurred total expenses of $2,346,929 in the first quarter of 2008 compared with $2,818,300 in the first quarter of 2007. The Company continues to see growth in its Earnings Before Interest, Tax, Depreciation, and Amortization ("EBITDA"), as the company achieved Q1 EBITDA of $(426,050) compared with EBITDA of $(1,925,851) in the same period of fiscal 2007.
Jean Louis Larmor, Luxell CEO stated, "we are very pleased with these results and we believe that we are only at the beginning of what will be an extended period of sales growth for the Company. Luxell has been through a very difficult period during the past two years. What makes this achievement even more meaningful is that it has been accomplished with the intense and continuous efforts of every member of our team. We now feel that the bulk of our turnaround plan is behind us."
For more details please see the complete filings posted on the Sedar web site.
About Luxell
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.
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