Warnex Reports Year End 2012 Results
(firmenpresse) - LAVAL, QUEBEC -- (Marketwired) -- 04/29/13 -- Warnex Inc. (TSX VENTURE: WNX.H) ("Warnex") announced today financial results for the year ended December 31, 2012.
2012 Highlights
"On behalf of the Warnex Board, I would like to sincerely thank Marc, Louis and Patrice for their longstanding commitment to the Company, and for their guidance and many contributions over the years. We wish them continued success for the future," remarked Michael Singer, Chairman of Warnex. "Furthermore and subsequent to the sale of the Bioanalytical Services Division, the Board has undertaken specific measures aimed at preserving shareholder capital including the transfer of all administrative employees to the purchaser thereby resulting in a material reduction in operating expenditures going forward, pending a final outcome related to the ongoing strategic review."
Financial Results
Consolidated revenue for the twelve-month period ended December 31, 2012, amounted to $9.0 million compared to $21.3 million in 2011. Subsequent to the sale of assets related to its Bioanalytical Division on December 10, 2012, Warnex no longer had any operating business units.
Net earnings for the twelve-month period amounted to $1.0 million or $0.04 per share in 2012 compared to $0.5 million or $0.03 per share in 2011.
For the twelve-month period ended December 31, 2012, selling expenses were $0.3 million compared to $1.3 million in 2011.
General and administrative expenses amounted to $3.9 million compared to $5.7 million last year.
Financial expenses decreased to $0.7 million in 2012 from $1.2 million in 2011, mainly due to the repayment and partial conversion of the debentures in April 2012.
Research and development tax credits amounted to $139,998 for the year ended December 31, 2012, compared to $204,422 in 2011.
The Company ended fiscal 2012 with cash of approximately $2.7 million and net assets of approximately $4.7 million, compared to $1.3 million in cash and a working capital deficiency of approximately $0.6 million in 2011. The Company did not have any long-term debt as at December 31, 2012.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
Certain statements contained in this news release are forward-looking and are subject to numerous risks and uncertainties, known and unknown. For further information identifying known risks and uncertainties, relating to financial resources, liquidity risk, volatility of share price and other important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the heading Risks and Uncertainties in Warnex's most recent Management's Discussion and Analysis, which can be found at . Consequently, actual results may differ materially from the anticipated results expressed in these forward-looking statements.
Financial statements to follow.
Consolidated Statements of Financial Position
Consolidated Statements of Changes in Shareholders' Equity
Consolidated Statements of Operations and Comprehensive Income
Consolidated Statements of Cash Flow
Contacts:
Michael Singer
Chairman of the Board of Directors, Warnex Inc.
Tel: (514) 940-3610
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 29.04.2013 - 15:02 Uhr
Sprache: Deutsch
News-ID 1221414
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
LAVAL, QUEBEC
Phone:
Kategorie:
Biotech
Anmerkungen:
Diese Pressemitteilung wurde bisher 151 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Warnex Reports Year End 2012 Results
"
steht unter der journalistisch-redaktionellen Verantwortung von
Warnex Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
