Perlite Canada Earnings Squeezed by Exchange

Perlite Canada Inc of Montreal, QC has reported sales revenues for its third quarter, the three months ended July 31, 2014, of CDN$1.36 million, a 2% increase from the same period of 2014. The volumes of perlite and vermiculite sold was similar to the volumes sold in 2014. The company recorded a net loss of CDN$180,595 in the latest quarter versus net earnings of CDN$24,454 for the corresponding period of 2014. The decrease in earnings is attributed to the depreciation of the Canadian dollar versus the US dollar. In order to lessen the impact of unfavorable exchange rates, Perlite Canada intends to increase the prices of its products and reduce its fixed costs during the next fiscal year.

Volume 29 issue 19

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