Luxor Achieves Significant Change in Profitability in 2014
VANCOUVER, British Columbia, June 26, 2014 (GLOBE NEWSWIRE) — Luxor Industrial Corporation (Pink Sheets:LXRRF) (TSX-V:LRL) wishes to advise that 2014 year to date sales exceed $1,300,000. Luxor’s sales for the 3 month period ending March 31, 2014 were $383,778 compared to $490,253 for the same period in 2013.
The Company took extreme measures to reduce overhead and operating costs in the last half of 2013. As a result, there has been significant improvement in profitability during 2014. The net profit for 3 month period ending March 31, 2014 was $16,992 compared to a net loss of $373,607 for the same period in 2013. EBITA for the 3 month period ending March 31, 2014 was $42,573 compared to negative $331,470 for the same period in 2013.
Luxor is involved in three areas of activity. Firstly, manufacturing products for use in residential construction. Secondly, manufacturing matting products for the natural resource sector. Thirdly, distributing and designing engineered wood products (laminated beams) for use in large wooden structures. The Company is focused on the latter activity which offers significant potential for growth. Luxor continues to do research and development on new products and will keep shareholders advised on existing activities and progress on new products.
As at the date of this news release, Luxor has 27,486,779 shares issued and outstanding.
About Luxor Industrial Corporation
Luxor manufactures and markets its patented IBS 2000® and patent pending IBS3000™ engineered bridging. Both enable a floor to act as a system with unparalleled scale of gain in stiffness and rigidity. Luxor has spent years analyzing wood-frame floor construction, establishing itself as a leading authority in wood floor performance engineering.
Luxor also manufactures other building components, architectural wood products and matting products for the natural resource sector. It distributes laminated beams and offers various custom wood cutting services.
The TSX Venture Exchange has neither approved nor disapproved this announcement
CONTACT: Luxor Industrial Corporation Terry Lashman (800) 665-2454 (604) 684-7929 firstname.lastname@example.org John Taylor (877) 496-4355 (604) 864-9601 www.luxorcorp.com