VANCOUVER, British Columbia, May 4, 2015 (GLOBE NEWSWIRE) -- Luxor Industrial Corporation (PINK Sheets:LXRRF) (TSX-V:LRL) wishes to provide an update on corporate activities. Sales for year ending December 31, 2014 were $ 2,799,169 compared to $ 2,157,003 for the year ending December 31, 2013. The net profit for 12 month period ending December 31, 2014 was $ 710,988, or $ .027 per share, compared to $ 12,319 for the same period in 2013.
EBITA for the year ending December 31, 2014 were $ 836,341 or $ .032 per share. Earnings were comprised of operating income and other items. Financial statements are available at www.luxorcorp.com or www.sedar.com.
Luxor's first quarter sales in 2015 exceeded $ 995,000 compared to $ 383,778 in 2014. Significant sales growth is continuing in 2015 particularly in the areas of access mat and crane mat manufacturing. Sales also increased in products used in residential construction. In 2015, Luxor has embarked on new manufacturing operations. With increases in existing operations and sales in new operations, the Company anticipates continued sales growth in 2015.
Luxor continues to do 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 areas of activity.
In the industrial sector, it manufacturing 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 floor pending IBS3000™ floor engineered bridging. 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 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