CRS Electronics Reports Fiscal 2014 Q1 Financial Results
28 Mai 2014 - 4:19PM
Marketwired
CRS Electronics Reports Fiscal 2014 Q1 Financial Results
TORONTO, ONTARIO--(Marketwired - May 28, 2014) - CRS Electronics
Inc. ("CRS" or the "Company"), (TSX-VENTURE:LED), a developer and
manufacturer of LED lighting products, today announced results for
the period ended March 31, 2014.
"Our first quarter under the lower cost Asian supply chain is
evident as our product cost decreased 60%," said Travis Jones,
President & CEO.
"We saw LED lamp sales increase 192.6% compared to Q4 2013 as a
result of our new Lumenova™ brand and commercial market strategy.
Our Regional Sales Directors have made great progress training and
developing the new North American independent sales agency channel
we've hired. While total revenue was 20.1% higher during the first
quarter last year due to residual retail sales, the early signs of
dramatically increased commercial market sales from Lumenova™ are
very encouraging," Jones said.
About CRS Electronics
CRS Electronics Inc. (TSX-VENTURE:LED), a Lighting Facts
partner, is a leader in the emerging, rapidly-growing market of
high efficiency light-emitting-diode ("LED"), or, solid state
lighting ("SSL"). The principal activities of CRS Electronics
include the development, manufacture and sale, primarily in North
America, of indoor lighting products such as LED replacement lamps,
exterior LED warning lights for school buses, child safety systems
for school buses, LED architectural lighting fixtures, and contract
manufacturing of LED circuit boards. As an innovator of LED
solutions since 1998, CRS Electronics continues to expand its
product portfolio and market presence with business partners and
customers, and under its own product brands, which include CRS
Electronics and Lumenova™.
Neither TSX Venture Exchange nor the Investment Industry
Regulatory Organization of Canada accepts responsibility for the
adequacy or accuracy of this release.
Certain statements contained in this news release constitute
forward-looking information within the meaning of Canadian
securities laws which can be identified by terminology such as
"may", "will", "could", "should", "expect", "plan", "anticipate",
"believe", "intend", "estimate", "projects", "predict",
"potential", "continue" or other similar expressions concerning
matters that are not historical facts. Such forward-looking
statements are based on a number of material factors and
assumptions, including, but not limited in any manner, those
disclosed in any other CRS filings, and include availability of
sufficient working capital for development and operations,
availability of a qualified work force, availability of
manufacturing equipment and the ultimate ability execute its
business plan on economically favourable terms. While we consider
these assumptions to be reasonable based on information currently
available to us, they may prove to be incorrect. Actual results may
vary from such forward-looking information for a variety of
reasons, including but not limited to risks and uncertainties
disclosed in other CRS filings at www.sedar.com and other
unforeseen events or circumstances. Other than as required by law,
CRS does not intend, and undertakes no obligation to update any
forward-looking information to reflect, among other things, new
information or future events.
Investor RelationsCRS Electronics Inc.Matthew GroenChief
Financial
Officermgroen@crselectronics.comwww.crselectronics.comMediamedia@lumenovaled.comwww.lumenovaled.com
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