Radiant Energy Corporation Announces Third Quarter 2009 Results
24 September 2009 - 7:15AM
Marketwired
Radiant Energy Corporation("Radiant" or the "Company") (TSX
VENTURE: RDT) (amounts in U.S. dollars), the developer and marketer
of radiant aircraft de-icing systems, announced its results for the
three and nine-months ended July 31, 2009, which are also available
on SEDAR.
The Company reported a loss of $463,751, or $0.00 per share for
the three months ended July 31, 2009 compared with a loss of
$769,758, or $0.00 per share for the three months ended July 31,
2008. The loss from continuing operations of $373,183 for the
three-month period was $365,420 lower than a loss from continuing
operations of $738,603 for the prior year. The Company's Norwegian
operations have been reported as a discontinued operation in the
consolidated financial statements following a decision during 2008
to end operations in Norway.
A loss of $1,616,577, or $0.01 per share was reported for the
nine-months ended July 31, 2009 compared with a loss of $4,590,299,
or $0.03 per share for the nine-months ended July 31, 2008. The
loss from continuing operations of $1,493,896 for the nine-month
period was $1,323,875 lower than a loss from continuing operations
of $2,817,771 for the prior year. Revenue for the nine-month period
of $431,948 was a 60% increase from $270,760 reported in the prior
year with more de-icing days in the current year.
On September 8, 2009, The TSX Venture Exchange granted final
approval of the Company's previously announced offering of secured
debentures, for which closings were announced on August 7, 2009 and
August 19, 2009.
About Radiant Energy Corporation
Radiant is the developer and marketer of Radiant Deicing
Systems. The Company's product is the only non-glycol based
alternative approved by the US Federal Aviation Administration for
the pre-flight ground deicing of aircraft. Aircraft deicing with
Radiant's technology offers savings to airports and airlines over
the use of conventional glycol-based deicing systems, reducing
aircraft treatment costs and significantly reducing the negative
impact of glycol on the environment.
This press release contains "forward-looking statements",
including statements regarding the business and anticipated
financial performance of Radiant Energy Corporation, which involve
risks and uncertainties. All statements, other than statements of
historical fact, that address activities, events or developments
that the Company believes, expects or anticipates will or may occur
in the future (including, without limitation, statements, regarding
financial and business prospects and financial outlook) are
forward-looking statements. These forward-looking statements
reflect the current expectations or beliefs of the Company based on
information currently available to the Company. Forward-looking
statements are subject to a number of risks, uncertainties and
assumptions that may cause the actual results of the Company to
differ materially from those discussed in the forward-looking
statements, and even if such actual results are realized or
substantially realized, there can be no assurance that they will
have the expected consequences to, or effects on the Company.
Factors that could cause actual results or events to differ
materially from current expectations include, among other things,
changes in general economic and market conditions, changes to
regulations affecting the Company's activities, and uncertainties
relating to the availability and costs of financing needed in the
future. Any forward-looking statement speaks only as of the date on
which it is made and, except as may be required by applicable
securities laws, the Company disclaims any intent or obligation to
update any forward-looking statement, whether as a result of new
information, future events or results or otherwise. Although the
Company believes that the assumptions inherent in the
forward-looking statements are reasonable, forward-looking
statements are not guarantees of future performance and accordingly
undue reliance should not be put on such statements due to the
inherent uncertainty therein.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press
release.
Contacts: Radiant Energy Corporation David Williams President
and Chairman 416.922.8778
Radiant Energy Corp (TSXV:RDT)
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