VANCOUVER, British Columbia, Aug. 31, 2015 (GLOBE NEWSWIRE) — Luxor Industrial Corporation (PINK Sheets:LXRRF) (TSX-V:LRL) provides an update on corporate activities and reports 8 consecutive quarters of profitability. Luxor’s sales for the 6 month period ending June 30, 2015 were $1,688,622 compared to $1,353,167 for the same period in 2014. The net profit for 6 month period ending June 30, 2015 was $207,539 compared to $219,313 for the same period in 2014.
Luxor’s sales for the 3 month period ending June 30, 2015 were $689,795 compared to $969,389 for the same period in 2014. Although sales increased in the first half of 2015, the decrease in sales in the second quarter was partially due to inventory adjustments and plant and equipment modifications. The net profit for 3 month period ending June 30, 2015 was $51,426 compared to $202,321 for the same period in 2014.
Luxor’s sales for the first 2 months of the third quarter through August have exceeded $625,000. Due to increasing sales, the Company in August added a second shift during the week as well as extra shifts on the weekend in its manufacturing operations.
Luxor continues to invest in 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 33,486,779 shares issued and outstanding.
About Luxor Industrial Corporation
Luxor is involved in the development, engineering, manufacturing and marketing of engineered wood products and operates in three sectors.
In the industrial sector, it manufacturers wood mat products for various applications including transmission lines, pipelines, wind farms, staging areas, boardwalks and pathways and oil and gas and mining operations.
In residential construction it manufactures and markets its patented IBS 2000® and patent pending IBS3000™ engineered floor bridging. Luxor has spent years analyzing wood-frame floor construction, establishing itself as a leading authority in wood floor performance engineering.
Luxor also manufactures and markets other building components, architectural wood products and offers various custom wood cutting services.
In the commercial sector it distributes and designs engineered wood products (laminated beams) for use in large wood structures.
Forward Looking Statements
This news release contains forward looking statements. Although Luxor believes that the expectations reflected in these forward looking statements are reasonable, undue reliance should not be placed on them because Luxor can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Additional information may be accessed through the Sedar website: www.sedar.com.
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