Press release from CNW Group
Pacific Insight Electronics Corp. Announces Third Quarter Results
Tuesday, May 15, 2012
Pacific Insight Electronics Corp. Announces Third Quarter Results21:23 EDT Tuesday, May 15, 2012NELSON, BC, May 15, 2012 /CNW/ - Pacific Insight Electronics Corp. (the "Company" or "PI") (TSX:PIH) announced today the results for the third quarter ended March 31, 2012.Sales for the third quarter ended March 31, 2012 were $10.039 million, an increase of 21% from $8.305 million for the comparative quarter ended March 31, 2011. Sales for the nine months ended March 31, 2012 were $27.709 million, an increase of 14% over $24.318 million, the sales achieved in the comparative nine month period.Third quarter results reported net profit of $81,000 or 1¢ per share compared with net profit of $219,000 or 4¢ per share in the prior year third quarter. Year to date results for the nine months ending March 31, 2012 reported a net loss of $358,000 or 6¢ per share compared with a net profit of $180,000 or 3¢ per share in the prior year nine month period ending March 31, 2011.Pacific Insight Electronics Corp. ("Pacific Insight") designs, manufactures and delivers electronic products and full service solutions to the automotive, commercial and specialty markets.The information in this news release was prepared in accordance with International Financial Reporting Standards ("IFRS"). To view the full March 31, 2012 Condensed Interim Consolidated Financial Statements and Management Discussion & Analysis please visit www.SEDAR.com.THE TSX HAS NOT REVIEWED AND DOES NOT ACCEPT THE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. MANAGEMENT ACCEPTS FULL RESPONSIBILITY FOR THE INFORMATION CONTAINED HEREIN.For further information: about Pacific Insight and its products and services, visit www.pacificinsight.com. Email enquiries may be sent directly to firstname.lastname@example.org or via telephone: 1-800-995-1155.