Radiant Energy Corporation Announces Second Quarter 2009 Results
June 30 2009 - 1:14PM
Marketwired
Radiant Energy Corporation, (TSX VENTURE: RDT) ("Radiant" or the
"Company") (amounts in U.S. dollars), the developer and marketer of
radiant aircraft de-icing systems, announced its results for the
three and six-months ended April 30, 2009, which are also available
on SEDAR.
The Company reported a loss of $514,967, or $0.00 per share for
the three months ended April 30, 2009 compared with a loss of
$3,210,523, or $0.02 per share for the three months ended April 30,
2008. The loss from continuing operations of $456,937 for the
three-month period was $1,080,684 lower than a loss from continuing
operations of $1,537,621 for the prior year. The Company's
Norwegian operations have been reported as a discontinued operation
in the consolidated financial statements following a decision
during 2008 to end operations in Norway.
A loss of $1,152,826, or $0.01 per share was reported for the
six-months ended April 30, 2009 compared with a loss of $3,820,541,
or $0.03 per share for the six-months ended April 30, 2008. The
loss from continuing operations of $1,120,713 for the three-month
period was $958,455 lower than a loss from continuing operations of
$2,079,168 for the prior year. Revenue for the six-month period of
$431,948 was a 60% increase from $270,760 reported in the prior
year with more de-icing days in the current year.
About Radiant Energy Corporation
Radiant is the developer and marketer of Radiant Deicing
Systems. The Company's product is the only non-glycol based
alternative approved by the US Federal Aviation Administration for
the pre-flight ground deicing of aircraft. Aircraft deicing with
Radiant's technology offers savings to airports and airlines over
the use of conventional glycol-based deicing systems, reducing
aircraft treatment costs and significantly reducing the negative
impact of glycol on the environment.
This press release contains "forward-looking statements",
including statements regarding the business and anticipated
financial performance of Radiant Energy Corporation, which involve
risks and uncertainties. All statements, other than statements of
historical fact, that address activities, events or developments
that the Company believes, expects or anticipates will or may occur
in the future (including, without limitation, statements, regarding
financial and business prospects and financial outlook) are
forward-looking statements. These forward-looking statements
reflect the current expectations or beliefs of the Company based on
information currently available to the Company. Forward-looking
statements are subject to a number of risks, uncertainties and
assumptions that may cause the actual results of the Company to
differ materially from those discussed in the forward-looking
statements, and even if such actual results are realized or
substantially realized, there can be no assurance that they will
have the expected consequences to, or effects on the Company.
Factors that could cause actual results or events to differ
materially from current expectations include, among other things,
changes in general economic and market conditions, changes to
regulations affecting the Company's activities, and uncertainties
relating to the availability and costs of financing needed in the
future. Any forward-looking statement speaks only as of the date on
which it is made and, except as may be required by applicable
securities laws, the Company disclaims any intent or obligation to
update any forward-looking statement, whether as a result of new
information, future events or results or otherwise. Although the
Company believes that the assumptions inherent in the
forward-looking statements are reasonable, forward-looking
statements are not guarantees of future performance and accordingly
undue reliance should not be put on such statements due to the
inherent uncertainty therein.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press
release.
Contacts: Radiant Energy Corporation David Williams President
and Chairman 416-922-8778
Radiant Energy Corp (TSXV:RDT)
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