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Rail News: Communication and Signal

Carmanah Technologies sets sales, revenue records in third quarter

Last week, Carmanah Technologies Corp. reported record third-quarter revenue of $15.4 million, up 44 percent compared with third-quarter 2005 and 11 percent compared with second-quarter 2006. The company also set a third-quarter sales record at $15.2 million.

In addition, net earnings rose about 60 percent to $297,000 compared with third-quarter 2005 and operating expenses as a percentage of sales decreased to 30.2 percent compared with 31 percent in the second quarter.

During 2006’s first nine months, Carmanah Technologies generated record revenue of $40.5 million, up 95 percent compared with the same 2005 period.

“The demand for solar-based and energy-efficient technologies is growing at an unprecedented rate,” said Chief Executive Officer Art Aylesworth in a prepared statement.

Carmanah Technologies supplies solar-powered LED lighting and illumination products to the transit, marine, aviation, roadway, industrial and illuminated signage markets.

Contact Progressive Railroading editorial staff.

More News from 11/27/2006