LONDON, ON, Feb. 3, 2014 /CNW/ - Mr. George Lunick CEO of Pearl River Holdings Ltd. ("Pearl River") reports on its financial results for the nine months ending September 30, 2013.
Revenue for the third quarter was $10,854,900 with earnings before income tax and minority interest of $487,635.
For the nine months ending September 30, 2013, revenue was $29,397,288 with earnings before income tax and minority interest of $881,680 up 18.2 percent from the comparative prior period.
Gross profit for the quarter was 22.1 percent compared with 18.7 percent in the same quarter in 2012. For the nine months it was 20.1 percent compared with 19 percent in the same nine month period in 2012. "This reflects management's continued focus on increasing profit margins," said Chief Executive Officer George Lunick.
The table provides highlights of the quarter with prior year comparison.
Financial Highlights
| Operating | Q3 2013 | Q3 2012 |
| Revenue | 10,251,900 | 10,199,303 |
| Gross Profit | 2,395,088 | 1,907,303 |
| Net Income before Income | ||
| Tax and Minority Interest | 487,655 | 309,315 |
Key balance sheet items per share are as follows:
| September 30, 2013 | December 31, 2012 | |
| Cash and cash equivalents per share | $ 0.0534 | $0.0630 |
| Equity attributable to common | ||
| Shareholders per share | 0.2579 | 0.2486 |
Mr. Lunick said "this quarter highlights the more efficient production facilities which the company has begun to realize the benefit of."
About Pearl River
Pearl River Holdings through its subsidiary, the company's principal business is the manufacturing and distribution of plastic products in China, Australia and the United States of America.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Pearl River Holdings Limited
George Lunick
CEO
T: (519) 679-1300
E: [email protected]
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