Luxor Achieves Significant Profitability for Third Quarter 2014
VANCOUVER, British Columbia, Dec. 3, 2014 (GLOBE NEWSWIRE) — Luxor Industrial Corporation (Pink Sheets:LXRRF) (TSX-V:LRL) wishes to provide an update on corporate activities. Sales for the 3 month period ending September 30, 2014 were $ 867,951 compared to $ 643,752 for the same period in 2013. The net profit for 3 month period ending September 30, 2014 was $ 315,987 compared to $ 13,129 for the same period in 2013.
Luxor’s sales for the 9 month period ending September 30, 2014 were $ 2,221,118 compared to $ 1,913,506 for the same period in 2013. The net profit for 9 month period ending September 30, 2014 was $ 535,300 compared to a net loss of $ 545,675 for the same period in 2013.
Luxor’s sales through November 2014 have exceeded $ 2.6 Million.
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 wood structures. The Company is focused on manufacturing matting products and distributing engineered wood products which offer 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.
On November 20, 2014, the Company announced private placement of $ 300,000 comprised of 6,000,000 units at a price of $ 0.05 per unit.
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 and designs laminated beams for use in large wood structures 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 John Taylor (877) 496-4355 (604) 864-9601 www.luxorcorp.com