Press release from CNW Group
Pacific Insight Electronics Corp. Announces Second Quarter Results
Thursday, February 14, 2013
Pacific Insight Electronics Corp. Announces Second Quarter Results23:57 EST Thursday, February 14, 2013Trading Symbol: PIHNELSON, BC, Feb. 14, 2013 /CNW/ - Pacific Insight Electronics Corp. (the "Company" or "PI") (TSX:PIH) announced today the results for the second quarter ended December 31, 2012.Sales for the second quarter ended December 31, 2012 were $12.233 million, an increase of 32% from $9.263 million for the comparative quarter ended December 31, 2011, and were the highest level of sales by quarter in the Company's history. Sales for the six months ended December 31, 2012 were $23.716 million, an increase of 34% over $17.670 million, the sales achieved in the comparative 6 month period.Second quarter results reported a net loss of $207,000 or 3¢ per share compared with net loss of $8,000 or 0¢ per share in the prior year second quarter. Year to date results for the six months ending December 31, 2012 reported a loss of $151,000 or 3¢ per share compared with a loss of $439,000 or 7¢ per share in the prior year six month period ending December 31, 2011.Pacific Insight Electronics Corp. (PI) designs, manufactures and delivers electronic products and full service solutions to the heavy truck, automotive and specialty markets. PI designs and distributes its products and services to original equipment manufacturers and distributors in the United States and Canada.The information in this news release was prepared in accordance with International Financial Reporting Standards ("IFRS"). To view the full December 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.SOURCE: Pacific Insight Electronics Corp.For further information: Email enquiries may be sent directly to firstname.lastname@example.org or via telephone: 1-800-995-1155.