Press release from Marketwire
Nordex Explosives Ltd. : Record Sales for Fourth Quarter 2013 and Increased Sales for January and February 2014
Tuesday, March 18, 2014
Nordex Explosives Ltd. : Record Sales for Fourth Quarter 2013 and Increased Sales for January and February 201408:00 EDT Tuesday, March 18, 2014
KIRKLAND LAKE, ONTARIO--(Marketwired - March 18, 2014) - NORDEX EXPLOSIVES LTD. ("Nordex" or the "Corporation") (TSX VENTURE:NXX) is pleased to announce record sales of approximately $4,875,000 in the fourth quarter of 2013 and increased sales in the first two months of 2014 in the amount of approximately $3,400,000. Nordex is working to increase its market share through the introduction of proprietary explosive products to existing and new customers, and announced the signing of a letter of intent to further expand operations into Western Canada on March 11, 2014.
Fourth Quarter sales of approximately $4,875,000 represents an increase of about $791,493 or a 19% increase from the previous year's fourth Quarter sales of $4,083,507; and about a $2,099,327 or 75% increase over the Corporation's 2011 fourth quarter gross sales of $2,775,673.
Through the first two months of 2014, Nordex has generated approximate sales of $3,400,000, which represents an increase of $1,163,545 or a 52% increase from the first two months of 2013 sales of $2,236,455; and a $1,354,505 or 66% increase over the first two months sales of 2012 of $2,045,495.
|Fourth Quarter Sales|
|Q4 2013||Q4 2012||Q4 2011|
|Total increase over same period in 2011||$2,099,327||$1,307,834|
|Accumulated % increase over same period in 2011||75.6%||47.1%|
|January and February Sales|
|Jan/Feb 2014||Jan/Feb 2013||Jan/Feb 2012|
|Total increase over same period in 2012||$1,354,505||$190,960|
|Accumulated % increase over same period in 2012||66.2%||9.3%|
Jim Taylor, President And CEO states; "The increase in sales is a direct reflection of the increased acceptance of our proprietary products and support equipment developed over the last couple of years. We have proven the quality of these products and are now poised to continue increasing our market share of the explosives industry. It is anticipated we can continue to grow with further exposure of our products as they are introduced into new geographic regions. We are proud to state that Nordex is the only Canadian manufacturer of explosives and trust this will be an important factor when consumers determine their explosives supplier of choice."
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.
The financial information in respect of gross sales for the periods indicated set out in this news release is presented on a basis consistent with the accounting principles used to prepare Nordex' most recently filed financial statements. Readers are advised that the Company faces various risk factors with respect to its business and operations: for further information please see the Management Discussion and Analysis reports of Nordex at www.SEDAR.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Capital Ideas IR
403 517 2270
Jim Taylor, President and CEO
705 642 3265 extension 203