Sonomax Announces First Quarter Results
May 30 2008 - 6:52PM
Marketwired
MONTREAL, QUEBEC today published its financial results for the
first quarter ended March 31, 2008. The company reported net
revenues of $230,946 and a net loss of $1,881,633 ($0.01) per share
for the quarter.
Full results may be found at www.sedar.com
Said Dan Casey, Sonomax's new Chief Executive Officer, "The Q1
numbers were in line with expectations as communicated in our
monthly conference call which was held on May 21, 2008 and
recapitulated in a press release on May 28th. In the course of the
call I reported that the numbers for the first half of the year
would be soft until Sonomax's new way of doing business, conversion
from a POP to a POS business model, plays out, and we clear up
inventory in the channel". Mr. Casey went on to say that a
meaningful contributor to stronger numbers in the second half of
the year will be the resolution of the issue of Aearo Technologies'
disappointing sales performance to-date. "It is our plan to resolve
this issue in the coming weeks; we expect to have a great deal to
report to shareholders on the resolution of this problem at this
year's Annual General Meeting, scheduled to be held on June 26th at
10:00AM at the Sheraton Center in Montreal, 1201, boul.
Rene-Levesque West. I will also take the opportunity during this
meeting to present my long term game plan for the company. We
encourage shareholders to be present."
About Sonomax
Sonomax Hearing Healthcare Inc. is a leader in the development
and manufacturing of intra-ear technologies. The company's patented
custom-fit, instant-fit expansion earpieces deliver a perfect
acoustic seal every time and can be certified by SonoPass�, the
company's proprietary, computer generated proof-of-performance
software. Building on its technology leadership in hearing
protection, Sonomax has expanded the applications for its
technologies into high growth consumer markets such as MP3 audio,
multi-media and gaming earphones, as well as Bluetooth(TM) headsets
for telephony, through its subsidiary VitaSound Audio Inc.
This news release contains certain forward-looking statements
that reflect the current views and/or expectations of Sonomax
Hearing Healthcare Inc. with respect to its performance, business
and future events. Such statements are subject to a number of
risks, uncertainties and assumptions. Actual results and events may
vary significantly. The TSX Venture Exchange has not reviewed and
does not accept responsibility for the adequacy or accuracy of this
release.
Contacts: Sonomax Hearing Healthcare Inc. Nick Laperle,
President 514-932-3745 nlaperle@sonomax.com
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