LONDON, ON, Feb. 3, 2014 /CNW/ - Mr. George Lunick CEO of
Pearl River Holdings Ltd. ("Pearl River") reports on its financial
results for the nine months ending September
30, 2013.
Revenue for the third quarter was $10,854,900 with earnings before income tax and
minority interest of $487,635.
For the nine months ending September 30,
2013, revenue was $29,397,288
with earnings before income tax and minority interest of
$881,680 up 18.2 percent from the
comparative prior period.
Gross profit for the quarter was 22.1 percent compared with 18.7
percent in the same quarter in 2012. For the nine months it
was 20.1 percent compared with 19 percent in the same nine month
period in 2012. "This reflects management's continued focus
on increasing profit margins," said Chief Executive Officer
George Lunick.
The table provides highlights of the quarter with prior year
comparison.
Financial Highlights
| Operating |
Q3 2013 |
Q3 2012 |
| Revenue |
10,251,900 |
10,199,303 |
| Gross Profit |
2,395,088 |
1,907,303 |
| Net Income before Income |
|
|
| Tax and Minority Interest |
487,655 |
309,315 |
Key balance sheet items per share are as follows:
| |
September 30, 2013 |
December 31, 2012 |
| Cash and cash equivalents per
share |
$ 0.0534 |
$0.0630 |
| Equity attributable to common |
|
|
| Shareholders per
share |
0.2579
|
0.2486 |
Mr. Lunick said "this quarter highlights the more efficient
production facilities which the company has begun to realize the
benefit of."
About Pearl River
Pearl River Holdings through its subsidiary, the company's
principal business is the manufacturing and distribution of plastic
products in China, Australia and the
United States of America.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Pearl River Holdings Limited
