Xylitol Canada Inc. Q3 2014 Financial Results
Company Announces 60% Revenue Growth for the Nine Months Ended September 30, 2014
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 11/14/14 -- Xylitol Canada Inc. ("Xylitol Canada", or the "Company") (TSX VENTURE: XYL) today announces that it has released its financial and operating results for the Fiscal 3rd Quarter and nine months ending September 30, 2014. Highlights of the results include:
Three months ended September 30, 2014
Nine months ended September 30, 2014
"We are pleased that the commercial acceptance for our products continues to be at an all-time high as indicated by our 60% year over year revenue growth. The strong U.S. Dollar combined with geographic sales mix led to some margin compression during the quarter. Our product division intends to implement measures in Q4 to enhance gross margins as we enter our busiest season. We look forward to continued expansion of our product division as the negative pressure on refined sugar and artificial sweeteners continue to accelerate," commented Andrew Reid, CEO of Xylitol Canada.
The Company also wishes to thank Frank Iadipaolo for his services as interim CFO during the 2nd and 3rd quarters of 2014. Mr. Iadipaolo was instrumental in setting up a robust internal control system, daily and weekly divisional reporting, and he architected an across the board costing and margin analysis program. Mr. Iadipaolo''s structural initiatives under a tight timeline are applauded. During this transition, the Company would like to welcome Kyle Appleby back to Xylitol Canada as CFO.
The full text of the Company''s interim consolidated financial statements and related management''s discussion and analysis ("MD&A") can be found at: .
About Xylitol Canada Inc.
Xylitol Canada markets xylitol and xylitol based-products and is focused on becoming a major low-cost manufacturer of xylitol and related products, serving the global market from operations in North America. Xylitol Canada''s business strategy is to leverage novel proprietary technology and processes to become North America''s premier manufacturer of low cost, high quality xylitol from readily available environmentally-sustainable biomass. Xylitol is a natural sweetener which is marketed globally including Canada and the United States and is accepted by the American Food and Drug Administration, the World Health Organization and the American Dental Association. Xylitol contains 75% less carbohydrates and 40% less calories than sugar, has a myriad of oral health benefits including the prevention of tooth decay and is safe for diabetics. To date, wider spread use of xylitol has been limited by the lack of a reliable, low cost, high quality supplier.
Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Datum: 14.11.2014 - 15:40 Uhr
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News-ID 1318647
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