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| Matrikon announces record results for the third quarter of 2008 | ||
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July 9, 2008 - Matrikon reported financial results for the third quarter of fiscal year 2008, which ended May 31, 2008. Third quarter revenue was a record $20.54 million, compared to $19.01 million in Q3-07 and $19.44 million in Q2-08. Net income in the third quarter was a record $2.47 million or $0.08 per share, compared to a net loss of $2.09 million or $0.07 per share in Q3-07 and net income of $1.81 million or $0.06 per share in Q2-08. Year-to-date revenue was $59.87 million, compared to $55.06 million in the first nine months of FY-07. YTD net income was $6.52 million or $0.21 per share, compared to $0.03 million or $0.00 per share in the first nine months of FY-07. Matrikon president and CEO Nizar J. Somji commented on the quarter: “We are very pleased to report record results for the third quarter. Our performance through the first nine months is a strong validation of the strategy we embraced at the beginning of 2008. We continue to make tremendous strides in all facets of our strategy, from product development and industry applications to increasing product sales and profitability. With three consecutive quarters of strong earnings momentum, we are continuing to invest in our future through careful investments in sales and marketing and research and development to drive future growth. As we now begin to look beyond 2008, we continue to see significant, global opportunities for our technology in the resource industries.” Matrikon’s board of directors declared a quarterly dividend of $0.03 per common share earlier this month along with a special one-time dividend of $0.30 per common share. Both the quarterly and special dividends were declared to all shareholders of record on June 24, 2008, payable on July 8, 2008. All dividends paid to Canadian taxpayers by Matrikon Inc. are designated as eligible dividends for purposes of utilizing the enhanced dividend tax credit. We are also pleased to announce the appointment of Jonathan Chia, CA as Chief Financial Officer, effective July 8, 2008. Mr. Chia, previously Senior Manager of Finance, has been employed at Matrikon since 2005. In this capacity, he has been responsible for a number of financial portfolios, including treasury, global tax, financial reporting and assisting with the financial operations of EMEA. Additional Highlights Conference Call and Webcast Matrikon President and CEO, Nizar J. Somji and CFO Jonathan Chia will hold a conference call to discuss third quarter results on Tuesday, July 8, 2008 at 5:00 pm Eastern time (3:00 pm Mountain time). To participate live, call 416-644-3416 in the Toronto area and 1-800-733-7560 for all other areas. A replay will be available until midnight, July 29, 2008. To access the playback service, please dial 416-640-1917 in Toronto or 1-877-289-8525 elsewhere. The reservation number is 21273285 followed by the pound sign (#). |
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