LEVIS, QUEBEC--(Marketwired - Apr 26, 2013) - Nuvolt Corporation Inc. (« Nuvolt ») (TSX VENTURE:NCO) announces the filling of its quarterly financial statements for the second quarter of the fiscal year 2012-2013, ended February 28, 2013.
"Nuvolt continues its momentum and closed its second quarter of 2012-2013 with a sales increase of 74%, as compared to the same quarter of the previous year. In six months, the cumulated sales represent 71% of the total sales of the 2011-2012 fiscal year" says Mr. Gilles Roy, Chief Executive Officer. "Results of the electrical network analysis performed in the United-States on the previous quarter as allowed to conclude three important sales, representing 45% of this quarter turnover. And the backlog to start the third quarter is actually well fulfilled" concludes Mr. Roy.
- Turnover increased by 45% for the first six months of the fiscal year, as compared to the same period of last fiscal year;
- First sale of a ShipScan system;
- Debentures financing of $1,250 000 has been closed in February 2013.
The quarterly financial statements and the management report can be view on the System for Electronic Documents Analysis and Retrieval (SEDAR), available at www.sedar.com.
About Nuvolt Corporation Inc.
Nuvolt has developed a specialized expertise in the monitoring and the management systems for electrical failures, power quality, the detection and neutralization of leakage current for the agriculture, maritime, commercial and industrial markets. SmartScan is now available to the agriculture market. The SmartScan system has the ability to predict an electrical failure on equipment and electrical networks. It could prevent equipment failures and production downtime on production assembly lines and commercial buildings and also fire risks. The ShipScan, for the maritime market, and the SmartScan Pro, for the industrial market were launched in September 2012.
Certain statements contained in this press release constitute forward-looking information. Such statements are based on the current expectations of management. You are cautioned that such statements can be subject to a multitude of risks and uncertainties that could cause actual results, future circumstances or events to differ materially from those projected in the forward-looking information. The reader should not place undue reliance on the forward-looking information included in this press release given that (i) actual results could differ materially from a conclusion, forecast or projection in the forward-looking information, and (ii) certain material factors or assumptions were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking information could prove to be inaccurate. There is no guarantee that the proposed private placement can be completed on the terms described in this press release. These statements speak only as of the date they are made, and Nuvolt assumes no obligation to revise such statements as a result of any event, circumstance or otherwise, except in accordance with law.