Radiant Energy Corporation Announces Results for First Quarter 2010
01 April 2010 - 7:05AM
Marketwired
Radiant Energy Corporation, (TSX VENTURE: RDT) ("Radiant" or the
"Company") (amounts in U.S. dollars), the developer and marketer of
radiant heat based aircraft de-icing systems, announced its results
for the three months ended January 31, 2010, which are also
available on SEDAR.
The Company reported income of $858,541, or $0.00 per share for
the three months ended January 31, 2010, compared with a loss of
$637,859, or $0.00 per share for the three months ended January 31,
2009. The income for the period was from the dissolution of
Company's discontinued operation during the period, resulting in
the recording of income of $1,405,677 relating to the reversal of
previously recorded accruals. The loss from continuing operations
for the three months ended January 31, 2010 was $547,136 compared
with a loss for the 2009 period of $663,776. Revenues of $10,000
for the three months ended January 31, 2010 were substantially
lower than the prior year as a result of a change in the operating
arrangements for the de-icing facility operated under contract by
the Company.
About Radiant Energy Corporation
Radiant is the developer and marketer of Radiant De-icing
Systems. The Company's product is the only non-glycol based
alternative approved by the US Federal Aviation Administration for
the pre-flight ground de-icing of aircraft. Aircraft de-icing with
Radiant's technology offers savings to airports and airlines over
the use of conventional glycol-based de-icing 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)
Historical Stock Chart
From Jun 2024 to Jul 2024
Radiant Energy Corp (TSXV:RDT)
Historical Stock Chart
From Jul 2023 to Jul 2024