![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Thursday, July 29, 2010 8:15:38 AM
Outlook:
Sofame reduced operating costs by $437,054 in Q2 2010 compared to Q2
2009. Despite a slow down in shipments due in part to the dramatic
restructuring of operations, Sofame was able to improve EBITDA to a
sustainable level. The new cost structure and outsourcing of some
manufacturing is providing a boost to quality and improving Sofame's
competitive advantage in terms of pricing and lead times. Sofame received
support from its supply chain partners and customers throughout the second
quarter. As a result Sofame was able to close $985,000 in new contracts from
April 1st to May 31, 2010. Lower costs and an increase in confirmed orders
position Sofame for further improvement in earnings in the second half of the
fiscal year. Sofame has also reached an agreement with a partner in the United
States to create a US joint venture company. The joint venture plans to
leverage Sofame's growing revenues in the US to attract additional capital
required to fund profitable growth in that market. The new company will be
eligible to supply energy efficiency equipment under the Buy America
provisions of the American Recovery and Reinvestment Act.
Crushing Pinklyland Est. 2009
Last Shot Hydration Drink Announced as Official Sponsor of Red River Athletic Conference • EQLB • Jun 20, 2024 2:38 PM
ATWEC Announces Major Acquisition and Lays Out Strategic Growth Plans • ATWT • Jun 20, 2024 7:09 AM
North Bay Resources Announces Composite Assays of 0.53 and 0.44 Troy Ounces per Ton Gold in Trenches B + C at Fran Gold, British Columbia • NBRI • Jun 18, 2024 9:18 AM
VAYK Assembling New Management Team for $64 Billion Domestic Market • VAYK • Jun 18, 2024 9:00 AM
Fifty 1 Labs, Inc Announces Acquisition of Drago Knives, LLC • CAFI • Jun 18, 2024 8:45 AM
Hydromer Announces Attainment of ISO 13485 Certification • HYDI • Jun 17, 2024 9:22 AM