Nordex Explosives Ltd. Announces Record Third Quarter Revenues for 2012
KIRKLAND LAKE, ONTARIO--(Marketwire - Oct. 24, 2012) -
NOT FOR DISTRIBUTION TO UNITED STATES OF AMERICA WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES OF AMERICA
LES EXPLOSIFS NORDEX LTEE/NORDEX EXPLOSIVES LTD. ("Nordex" or the "Corporation") (TSX VENTURE:NXX) is pleased to announce its third consecutive quarter of record revenues in 2012. Total revenues for the third quarter ending September 30th, 2012 were $3,900,824. This is an increase of $702,204 or 22% over revenues of $3,198,620 for the same three month period in 2011.
Total revenues for the first nine months of 2012 were $10,808,522 compared to $8,720,597 for the same period in 2011. This is an increase in revenues of $2,087,925 or 23.9% increase in year to date revenues compared to 2011.
Nordex continues to increase its manufacturing capabilities. This includes a proprietary line of packaged and bulk emulsion products and the introduction, manufacture and sale of new specialty products.
Jim Taylor, President & CEO, stated, "We are very grateful to the many mines and construction clients who support us. It is gratifying to know they appreciate the level of service and quality of products we are able to provide. Nordex is important to the economic growth and prosperity of the areas where we operate. The revenues generated from the sale of our products stay locally and help support many community activities and other businesses. Nordex is the only Canadian owned manufacturer of packaged explosives and we are very proud of this fact."
ABOUT NORDEX EXPLOSIVES: LES EXPLOSIFS NORDEX LTEE./NORDEX EXPLOSIVES LTD. is a manufacturer and distributor of explosives for the mining, quarry and road 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 Econotrim and Ezicharge "Johnex Explosives" products in Canada. Nordex trades on the TSX Venture Exchange under the symbol "NXX".
The financial information in respect of gross revenues for the periods set out in this news release are presented on a consistent basis with the accounting principles used to prepare the most recent filed financial statements for Nordex. 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 of Nordex at www.SEDAR.com.
Forward-Looking Statements - Not for U.S. Distribution
Certain information included herein may contain "forward-looking statements" which reflect the current expectations of management of the Corporation regarding the Corporation's future growth, results of operations, performance, business prospects and opportunities. Wherever possible, words such as "may", "would", "could", "should", "will", "anticipate", "believe", "plan", "expect", "intend", "estimate", "aim", "endeavor", "seek", "predict", "potential" and similar expressions have been used to identify these forward-looking statements. These statements reflect management's current beliefs with respect to future events and are based on information currently available to management of the Corporation. Forward-looking statements involve significant risks, uncertainties and assumptions. Many factors could cause the Corporation's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward looking statements, including, without limitation, cancellations of or the failure to renew purchase orders; production and delivery issues; quality, pricing and availability of raw materials; compliance with environmental regulations; exchange rate fluctuations as well as the other risks identified in the "Risk Factors" contained in the Corporation's Management Discussion and Analysis and other public filings (copies of which may be obtained at www.sedar.com). Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by this press release. These factors should be considered carefully and the reader should not place undue reliance on the forward-looking statements. Although any forward-looking statements contained in this press release are based upon what management currently believes to be reasonable assumptions, the Corporation cannot assure readers that actual results, performance or achievements will be consistent with these forward-looking statements, and management's assumptions may prove to be incorrect. These forward-looking statements are made as of the date of this press release, and, other than as required by law, the Corporation does not intend, and does not assume any obligation, to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
FOR FURTHER INFORMATION PLEASE CONTACT:
Nordex Explosives Ltd.