pictouislander, I am not too far ahead on anything, Please see old news release.
2005-01-10 09:17 ET - News Release
Mr. Michael Jacobs reports
Pyng Medical Corp. has posted record sales of $1,198,000 for the fiscal year ending Sept. 30, 2004, an increase of 67 per cent over 2003 sales of $1,154,762. Cost of sales was $764,386, providing a gross margin of $1,164,098, or 65 per cent. Operating cash flows from manufacturing activities of $223,966 were generated, and earnings before interest, taxes, depreciation and amortization, and additional costs associated with research and development, were $136,922.
These results can be attributed to continued growth in U.S. sales, both military and civilian, and continued operational efficiencies being achieved in the PMC Richmond, B.C., production facility. "Now that Pyng Medical Corp. is providing positive cash flow, we will be able to make further investments to increase sales and profits of our flagship product, the F.A.S.T.1, and also embark on a strategy of bringing new products to the market, either alone or through acquisitions," said Michael Jacobs, founder and chief executive officer. |
