Pacific Insight Reports Second Quarter 2016 Results
VANCOUVER, Feb. 12, 2016 /CNW/ - Pacific Insight Electronics Corp. ("Pacific Insight") (TSX: PIH), a world-class electronics and full service solutions provider to the transportation industry, today announced its financial results for the second quarter ended December 31, 2015. All figures are in Canadian dollars unless otherwise stated.
Financial Highlights
| For the 3 months ended |
For the 6 months ended |
||||||||
| In thousands of dollars (except EPS) |
Dec 31, 2015 |
Dec 31, 2014 |
Dec 31, 2015 |
Dec 31, 2014 |
|||||
| $ |
$ |
$ |
$ |
||||||
| Revenues |
30,495 |
16,318 |
60,931 |
32,253 |
|||||
| Net income (loss) for the period |
2,404 |
(313) |
4,392 |
(225) |
|||||
| Earnings (loss) per fully diluted share |
0.36 |
(0.05) |
0.69 |
(0.04) |
|||||
Pacific Insight's revenues for the three months and six months ended December 31, 2015 were $30.5 million and $60.9 million, increasing from $16.3 million and $32.3 million, respectively from the same periods one year ago. The increase in revenues was a result of new LED interior lighting opportunities and a robust business climate for the Company's product lines.
Net income for the three and six months ended December 31, 2015 was $2.4 million or $0.36 per diluted share and $4.4 million or $0.69 per diluted share, respectively.
Financial Statements and Management's Discussion & Analysis
This news release should be read in conjunction with Pacific Insight's condensed interim consolidated financial statements for the quarter ended December 31, 2015 and the related Management's Discussion and Analysis, which can be found on sedar.com.
About Pacific Insight Electronics Corp.
Pacific Insight is a global solutions provider offering design, development, manufacturing, and delivery of electronic products and full service solutions to the automotive and commercial vehicle markets. The Company provides OEM as well as Tier 1 and Tier 2 customers with a range of cost competitive products including LED lighting products and systems, electronic control modules, and wire harnesses. For more information, visit pacificinsight.com.
The information in this news release was prepared in accordance with International Financial Reporting Standards ("IFRS"). To view the full June 30, 2015 Audited Consolidated Financial Statements and Management's Discussion & Analysis please visit sedar.com. Email enquiries may be sent directly to [email protected] or via telephone: 1-800-995-1155. Pacific Insight is listed on the Toronto Stock Exchange and its trading symbol is PIH.
SOURCE Pacific Insight Electronics Corp.
Image with caption: "Pacific Insight Electronics Corp. (CNW Group/Pacific Insight Electronics Corp.)". Image available at: http://photos.newswire.ca/images/download/20160212_C4611_PHOTO_EN_619548.jpg
Investor Relations, [email protected], 1.800.995.1155
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