News
NOV 14, 2008 -- Newlook subsidiary Wireless Age announces strong third quarter results
Toronto - Newlook Industries Corp. (TSXV: NLI) ("Newlook" or the "Company") today reported that its majority owned subsidiary, Wireless Age Communications, Inc. ("Wireless Age"), reported its financial performance for its third quarter, ended September 30, 2007.
Wireless Age reported earnings of US$496,423 during the quarter ended September 30, 2007 compared to a loss of US$1,468,410 during the comparative period in 2006. Earnings from continuing operations were US$595,147 ($0.01 per share) and the loss from discontinued operations was US$98,724 ($0.00 per share) during the three month period ended September 30, 2007.
Consolidated revenues for the third quarter of 2007 of US$8,279,518 were up 9% from US$7,574,598 in the previous quarter and up 27% from US$6,504,134 in the third quarter of 2006. Retail segment revenues of US$4,349,086 were up 11% from US$3,912,419 in the previous quarter and up 20% from US$3,615,719 in the prior year quarter. Distribution segment revenues of US$3,930,432 were up 7% from US$3,662,179 in the previous quarter and up 36% from US$2,888,415 in the third quarter of 2006.
Newlook Chairman and CEO, John G. Simmonds commented, "I'm extremely pleased with our investment in Wireless Age. Posting earnings per share from continuing operations of US$0.01 during their third quarter is a very good result. Newlook will record its proportionate share of these earnings during its fiscal fourth quarter and we are confident that their future results will be even better."
Newlook Industries Corp., headquartered in Toronto, Ontario is a publicly traded company listed on the TSX Venture Exchange. For more information please call (416) 216-8659 or refer to www.sedar.com.
The management of the company, who take full responsibility for its content, prepared this press release. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This press release contains forward- looking statements relating to future events and results that are based on Newlook's current expectations. These statements involve risks and uncertainties including, without limitation, Newlook's ability to successfully develop and market its products, consumer acceptance of such products, competitive pressures relating to price reductions, new product introductions by third parties, technological innovations, and overall market conditions. Consequently, actual events and results in future periods may differ materially from those currently expected.
For more information contact:
John Simmonds
Chief Executive Officer
Newlook Industries Corp.
Telephone: (416) 477-5656, Ext. 301
NOV 14, 2008 -- Newlook subsidiary Wireless Age announces strong third quarter results
Toronto - Newlook Industries Corp. (TSXV: NLI) ("Newlook" or the "Company") today reported that its majority owned subsidiary, Wireless Age Communications, Inc. ("Wireless Age"), reported its financial performance for its third quarter, ended September 30, 2007.
Wireless Age reported earnings of US$496,423 during the quarter ended September 30, 2007 compared to a loss of US$1,468,410 during the comparative period in 2006. Earnings from continuing operations were US$595,147 ($0.01 per share) and the loss from discontinued operations was US$98,724 ($0.00 per share) during the three month period ended September 30, 2007.
Consolidated revenues for the third quarter of 2007 of US$8,279,518 were up 9% from US$7,574,598 in the previous quarter and up 27% from US$6,504,134 in the third quarter of 2006. Retail segment revenues of US$4,349,086 were up 11% from US$3,912,419 in the previous quarter and up 20% from US$3,615,719 in the prior year quarter. Distribution segment revenues of US$3,930,432 were up 7% from US$3,662,179 in the previous quarter and up 36% from US$2,888,415 in the third quarter of 2006.
Newlook Chairman and CEO, John G. Simmonds commented, "I'm extremely pleased with our investment in Wireless Age. Posting earnings per share from continuing operations of US$0.01 during their third quarter is a very good result. Newlook will record its proportionate share of these earnings during its fiscal fourth quarter and we are confident that their future results will be even better."
Newlook Industries Corp., headquartered in Toronto, Ontario is a publicly traded company listed on the TSX Venture Exchange. For more information please call (416) 216-8659 or refer to www.sedar.com.
The management of the company, who take full responsibility for its content, prepared this press release. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This press release contains forward- looking statements relating to future events and results that are based on Newlook's current expectations. These statements involve risks and uncertainties including, without limitation, Newlook's ability to successfully develop and market its products, consumer acceptance of such products, competitive pressures relating to price reductions, new product introductions by third parties, technological innovations, and overall market conditions. Consequently, actual events and results in future periods may differ materially from those currently expected.
For more information contact:
John Simmonds
Chief Executive Officer
Newlook Industries Corp.
Telephone: (416) 477-5656, Ext. 301
