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Priva Inc announces Q2 results
24 Aug '05
2 min read
David Horowitz, President and C.E.O. of Montreal based waterproof textiles provider Priva Inc is pleased to announce the Corporation's 2nd Quarter results for the period ending June 30, 2005.
Revenues for Q2 2005 were $2,042,349, which represented a 15 percent increase over the $1,775,697 recorded in Q2 2004. During the Second Quarter of 2005, Sales and Administrative Expenses increased by 37.6 percent to $426,658 compared to $310,025 during Q2 2004. This increase in expenditures was a result of incurring expenses associated with marketing, sales and increased warehousing space that were required to be made to meet Priva anticipated growth and increase in sales. Priva has invested in the Home Furnishings Division, with the addition of Derek Paterson, as Vice President of the Division.
Specifically the marketing and sales costs associated with the launch into furniture and mattress stores have been realized in this second Quarter for future results in upcoming Quarters. As a result, Net Earnings Before Tax in Q2 2005 was $18,332, compared with $72,101 in Q2 2004. Net Earnings Per Share Fully Diluted for Q2 2005 was $0.001 compared with $0.005 per share in Q2 2004.
"Notwithstanding the strong Canadian dollar, which is putting downward pressure on the growth of other Canadian distribution companies that export their products, Priva has been able to continue to grow. A stronger Balance Sheet has positioned Priva to pursue its growth plans and will continue to work towards its goal of increasing its penetration into the USA marketplace", says David Horowitz, President and CEO, Priva Inc. The pending acquisition by Priva of $6 million USD in annualized customer accounts from Philmont Manufacturing is one example of how Priva will achieve this goal.
Revenues for Q2 2005 were $2,042,349, which represented a 15 percent increase over the $1,775,697 recorded in Q2 2004. During the Second Quarter of 2005, Sales and Administrative Expenses increased by 37.6 percent to $426,658 compared to $310,025 during Q2 2004. This increase in expenditures was a result of incurring expenses associated with marketing, sales and increased warehousing space that were required to be made to meet Priva anticipated growth and increase in sales. Priva has invested in the Home Furnishings Division, with the addition of Derek Paterson, as Vice President of the Division.
Specifically the marketing and sales costs associated with the launch into furniture and mattress stores have been realized in this second Quarter for future results in upcoming Quarters. As a result, Net Earnings Before Tax in Q2 2005 was $18,332, compared with $72,101 in Q2 2004. Net Earnings Per Share Fully Diluted for Q2 2005 was $0.001 compared with $0.005 per share in Q2 2004.
"Notwithstanding the strong Canadian dollar, which is putting downward pressure on the growth of other Canadian distribution companies that export their products, Priva has been able to continue to grow. A stronger Balance Sheet has positioned Priva to pursue its growth plans and will continue to work towards its goal of increasing its penetration into the USA marketplace", says David Horowitz, President and CEO, Priva Inc. The pending acquisition by Priva of $6 million USD in annualized customer accounts from Philmont Manufacturing is one example of how Priva will achieve this goal.
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