Health & Fitness
Tue, September 13, 2011Mon, September 12, 2011Sun, September 11, 2011Sat, September 10, 2011Fri, September 9, 2011Thu, September 8, 2011Wed, September 7, 2011Tue, September 6, 2011Mon, September 5, 2011Sun, September 4, 2011Sat, September 3, 2011Fri, September 2, 2011Thu, September 1, 2011Wed, August 31, 2011Tue, August 30, 2011Mon, August 29, 2011Fri, August 26, 2011Thu, August 25, 2011Wed, August 24, 2011Tue, August 23, 2011Mon, August 22, 2011Sat, August 20, 2011Fri, August 19, 2011Thu, August 18, 2011Wed, August 17, 2011Tue, August 16, 2011Mon, August 15, 2011Fri, August 12, 2011Thu, August 11, 2011Wed, August 10, 2011Sonomax Reports Second Quarter 2011 Results
Published in Health and Fitness on Friday, August 26th 2011 at 14:21 GMT by Market Wire
MONTREAL, Aug. 26, 2011 /CNW Telbec/ - Sonomax Technologies Inc. ("Sonomax" or the "Company") (TSXV: SHH) disclosed today its results for the three-month and six-month periods ended June 30, 2011.
Second Quarter 2011 highlights were:
- Gross loss was $4,472 in 2011 compared to gross profit of $83,136 in 2010
- Decrease in net revenue to $147,892 in 2011 from $328,980 in 2010
- Increase in operating expenses to $1,047,479 compared to $681,786 in 2010
To fully exploit the potential of the Company's new self-fit delivery platform, Sonomax has chosen to pursue a strategy of greater market visibility and demonstrated user validation. Specifically, Sonomax has started to commercialize and is now selling its unique brand of custom-molded earphones, sculpted eers™, direct to selected retailers with the assistance and support of the Levin Consulting Group. The retailers in the US are Airport Wireless and Tech Showcase stores in Atlanta, Boston, Charlotte, Miami, New York and Philadelphia, and in Canada, the HearAtLast stores in Edmonton, Ottawa and Toronto and Boutique Tone in Montreal. This exercise is not only designed to generate revenue but also to demonstrate the viability of the technology in the retail space.
"While we are still in the early stages of the test, initial results are very encouraging and customer response has been excellent. We expect to be adding more stores in the coming weeks as we refine our messaging and in-store experience" said Nick Laperle, President and CEO. It is anticipated that this exercise will create other opportunities for distribution as well as licensing of the Company's technology for other in-ear products to Original Equipment Manufacturers. Sonomax will soon be able to report on sales of sculpted eers™ and revenue from licensing in the next few quarters.
Full financial statements can be found at: [ www.sedar.com ]
About Sonomax Technologies Inc. Sonomax is a leader in the research, development and licensing of in-ear technologies. With over 50 patents worldwide, Sonomax pioneering innovation includes instant custom-fitting earpieces that deliver the most comfortable protective and sound enhancing experience in the world. The latest SonoFit™ System offers our OEM, ODM and aftermarket clients a broader range of opportunities in customized earpieces for the Consumer, Industrial, Military and Medical markets.
([ www.sonomax.com ])
This news release contains certain forward-looking statements that reflect the current views and/or expectations of Sonomax Technologies Inc. with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
