Nordex Announces Record Quarter 1 Revenue
30 Avril 2014 - 1:00PM
Marketwired
Nordex Announces Record Quarter 1 Revenue
KIRKLAND LAKE, ONTARIO--(Marketwired - Apr 30, 2014) - NORDEX
EXPLOSIVES LTD. ("Nordex" or the "Corporation") (TSX-VENTURE:NXX)
is pleased to announce the filing of the quarterly financial
statements and management discussion and analysis for the fiscal
period ended March 31, 2014. This information is available on SEDAR
and the Corporation's website.
Highlights for this three month period are as follows:
- Record revenue of $5,330,559, an increase of 51.1% from the
previous years comparable three month period;
- Gross profit of $1,220,096, an increase of 67.6% from the
previous years comparable three month period;
- Net income before tax of $428,393;
- Net income after tax of $317,919, an increase of 159.9% from
the previous years comparable three month period;
- Increasing manufacturing of Buttbuster line of products from
new facility;
- Increased demand for the line of Buttbuster perimeter control
products;
- Recognition of revenue from new distribution locations located
in Ontario;
- Signed letter of intent for new distribution location in
Western Canada
President and CEO Jim Taylor states; "We are extremely pleased
with the progress at our new distribution facilities now generating
additional revenue for our line of explosives products. We continue
to diversify our customer base, with specific focus on generating
revenue from the construction business as well as the traditional
mining business. With a modest recovery in the mining business, we
are starting to see increasing demand from existing and new
customers."
Nordex will be attending the CIM conference held in Vancouver,
BC from May 11 to 14, 2014. It is expected that management will be
meeting with a number of existing and new customers to continue the
introduction and education for the Buttbuster line of products.
About Nordex
Explosives
Nordex Explosives Ltd. is a Canadian based manufacturer and
distributor of explosives for the mining, quarry and construction
industries since 1970. Its manufacturing operations and
distribution centre is strategically located in one of the world's
largest mining regions near Kirkland Lake, Ontario. Nordex is the
exclusive supplier of the "Buttbuster" perimeter control explosive
products in Canada. Additional information can be found at
www.nordexexplosives.com
Neither the TSX Venture nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture)
accepts responsibility for the adequacy or accuracy of this
release.
Capital Ideas IRDean Stuart403 517
2270dean@boardmarker.netNordex Explosives Ltd.Jim TaylorPresident
and CEO705 642 3265 extension
203jtaylor@nordexexplosives.comwww.nordexexplosives.com
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