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BIOREM announces record third quarter with $520,000 in net earnings

^{Published on 2009-11-16 04:07:54 - Market Wire}
 

 ------------------------------------------ Three months ended Nine months ended September 30, September 30, ------------------------------------------------------------------------- (in thousands of Canadian dollars, except per share data) 2009 2008 2009 2008 ------------------------------------------------------------------------- REVENUE 4,910 4,105 14,625 9,761 ------------------------------------------------------------------------- GROSS PROFIT 2,348 1,753 5,980 4,015 ------------------------------------------------------------------------- EBITDA(1) (including gains and losses on foreign exchange) 796 287 646 (221) ------------------------------------------------------------------------- NET EARNINGS 520 144 (143) (622) ------------------------------------------------------------------------- BASIC AND DILUTED EARNINGS PER SHARE 0.04 0.01 (0.01) (0.05) ------------------------------------------------------------------------- WEIGHTED AVERAGE COMMON SHARES 12,010 11,978 11,989 11,978 ------------------------------------------------------------------------- 

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 1. EBITDA is a non-GAAP earnings measure, therefore, it does not have any standardized meaning prescribed by Canadian generally accepted accounting principles and may not be similar to measures presented by other companies. EBITDA represents earnings before interest, income taxes, depreciation and amortization. This measure is important to management since it is used by potential lenders to evaluate the ongoing cash generating capability of the Company and thus the amounts those lenders are willing to lend to the Company.