Carmanah Cites Quarterly Revenues

May 12, 2003 [SolarAccess.com] British Columbia-based Carmanah Technologies Corporation announced their first quarter results for the three months ended March 31, 2003 and 2002 (All figures in Canadian Dollars). Carmanah’s total revenues for the three months ended March 31, 2003 increased 38 percent to $1,906,478, compared to $1,381,044 for the same period in 2002. Revenues were derived from the sale of solarpowered LED (light emitting diode) hazard, safety and navigation lights. Net income for the three months ended March 31, 2003 was $12,915 or $0.001 per share compared to a loss of $24,580 or $0.001 per share for the three months ended March 31, 2002. Earnings before interest, taxes, depreciation and amortization (EBITDA) was $63,883, compared with $72,267 for same period in 2002. For more information and the entire quarterly results visit the site below. Access: Carmanah
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