Prism Medical Ltd. appear its after-effects for the third division concluded August 31, 2009.
Net assets for the third division of 2009 decreased to $820 thousand ($0.13 per allotment on a adulterated basis) against $1.065 actor ($0.16 per allotment on a adulterated basis) for the aforementioned aeon in 2008.
During the third division of 2009, revenues were $15.1 actor compared to $12.4 actor in 2008, an access of 22%, apprenticed by an access in sales aural the United States and the UK. The Company continues to focus its efforts on the US exchange through added sales initiatives and bounded coverage. In the UK, sales added 25% afterwards accumulation the appulse of a abatement in the British Pound Sterling (GBP) about to the Canadian dollar.
In the third division of 2009, gross accumulation added $927 (16%) over the aforementioned aeon in 2008 apprenticed by the sales access and college allotment of sales fabricated by the Company endemic arrangement of dealers and absolute sales staff. Selling, accepted and administering costs added $1,180 (34%) over the aforementioned aeon endure year primarily as a aftereffect of accumulation the operating costs of new acquisitions and basement costs incurred aural the US.
Earnings per allotment on a adulterated base for the three months concluded August 31, 2009 of $0.13 per allotment represents a abatement of 18% over the aforementioned aeon endure year.
In the third division of 2009, EBITDA was $2,098 vs. $2,434 over the aforementioned aeon in 2008. The abrasion of the British batter admirable on a year over year base bargain EBITDA in the third division of 2009 by $220 CDN.
Andrew McIntyre, Chairman and CEO of Prism declared “the third division of 2009 was absolute for the Company as we saw connected institutional appeal for our products, bigger accomplishment efficiencies and greater geographic advantage in the accepted bread-and-butter climate. Further improvements in US sales representation and banker bazaar allotment should aftereffect in approaching assisting growth.”
About Prism Medical Ltd.
Prism Medical Ltd. is a provider of abiding medical accessories and accompanying casework to the advancement disadvantaged in Canada, the U.S. and the United Kingdom. While Prism's history dates aback to 1996, Prism's subsidiaries and capacity accept been application the advancement disadvantaged back the mid 1980's in their homes, abiding affliction accessories and adroit affliction facilities. Prism includes Waverley Glen, North America's premiere beam lift architect with administration above Canada and the U.S., Patient Lifts of New England with administration above the northeastern USA, Westholme and Care Free Lifting & Handling, arch distributors of affective and administration articles in the U.K. and Freeway Health Care, a U.K.-based architect of beam lifts and battery chairs. For added information, appointment http://www.prismmedicalltd.com.
Forward-looking Information
Certain statements in this absolution may aggregate advanced statements. Such advanced statements absorb risks, uncertainties and added factors, which may could cause absolute results, achievement or achievements of Prism to be materially altered from approaching results, achievement or achievements bidding or adumbrated by such advanced statements.
The TSX Venture Exchange has not advised and does not access albatross for the adequacy or accurateness of this columnist release.
Contact:
William G. Edwards
Chief Financial Officer
Prism Medical Ltd
Vaughan, ON
T: 905-850-0093 ext. 242
F: 905-850-0061
wgedwards@prismmedicalltd.com http://www.prismmedicalltd.com .
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