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"Despite the very difficult economic period, PARTA has succeeded, for its fiscal year 2009, to stabilize its revenues to $849,352, representing a slight decrease of 4% compared to 2008", declared M. Paul Allard, PARTA's chairman of the board. "We are now in a good position to execute our growth plan for 2010."
Also to be noted, PARTA increased its 2009 EBITDA to $74,089 compared to ($22,649) in 2008. The adjusted EBITDA increased to $85,471 in 2009 compared to ($22,649) in 2008." This improved situation results mainly from the cost reduction plan we applied to our operations", stated M. Gilbert Boyer, PARTA's Chef Financial Officer.
Summary for fiscal year ended May 31, 2009:
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For fiscal year ended : May 31, 2009 May 31, 2008
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Revenues 849,352 880,564
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Gross profit 133,361 226,089
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Net loss (92,757) (224,119)
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Basic and diluted earnings per share (0.02) (0.07)
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EBITDA 74,089 (22,649)
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% EBITDA on sales 8.7 (2.6)
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Adjusted EBITDA 85,471 (22,649)
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Total assets 1,728,180 1,062,446
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Long term financial liabilities 78,840 110,960
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About PARTA Sustainable Solutions Inc. (www.partaworld.com)
PARTA Sustainable Solutions Inc. develops and produces services and innovative technologies which permit organizations to establish real exchanges on sustainable development between their internal and external stakeholders. To make this happen, PARTA benefits from established expertise in communications, training and new media on an international level.
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(The TSX Venture Exchange assumes no responsibility for the information
or accuracy of this press release)
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SOURCE: PARTA SUSTAINABLE SOLUTIONS INC.
Paul Allard, CEO, PARTA Sustainable Solutions Inc., (514) 277-1201 ext. 35, paul.allard@partaworld.com
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