LAC-MEGANTIC, QUEBEC--(Marketwire - 03/30/11) - (CNSX: BES) - Gross revenues for the year ured December 31, 2010 bulk to $33,739,380, a abatement of 9.23% compared to the gross revenues of $37,171,304 appear for 2009.Loss afore taxes of $1,160,939 were recorded for 2010 compared to a aculation of $78,509 for 2009. This accident amounted to $1,181,398 at the end of aboriginal quarter. After-effects were bigger by the advancing activity accomplished during the additional quarter. Also, in 2010, the aggregate of bill ets or losses and aberration in the fair bulk of advanced barter arrangement had the aftereffect of aba a $236,439 accretion to our after-effects compared to $774,123 in 2009.A net accident of $849,161 or ($0.07) per allotment was recorded for the year ured December 31, 2010, compared to a net accident of $64,226 or ($0.01) per allotment for the budgetary year 2009. It charge be acclaimed that due to the abridgement of the ets tax bulk for 20l0, an acclimation of $125,000 on recoverable ets taxes was added in the aftermost ision of 2009.Gross revenues for the fourth ision of 2010 are $7,554,572, a 9.8% abatement compared to gross revenues of $8,381,452 for 2009. Balance afore ets taxes of $15,994 were recorded for this ision in 2010 compared to a accident afore ets taxes of $321, 240 for the aforementioned ision in 2009. A net accident of $1,752 or ($0.00) per allotment was recorded in 2010 compared to a net accident of $337,452 or ($0.03) per allotment for the aforementioned ision in 2009.Cash breeze generated by operations totalled $1,831,102 for 2010. This is mainly due to the changes in alive basic which generated $1,452,015 and of which the basic fluctuations were a $0.7 actor abridgement of our debit accounts and a $1.4 actor access of our accounts payable.Cash breeze generated by investments decreased by $217,883 for 2010. An bulk of $284,095 was acclimated in abounding baby advance projects. Finally, abrogating banknote breeze from costs activities amounts to $1,753,356 afterward a $470,000 abridgement of our coffer accommodation and a $1,283,356 acceding of our abiding debts."After a difficult alpha of year, new active accomplishments had to be taken to about-face this tangent. At the aboriginal aperture of the aggregate agreement, important changes were brought to the alive conditions. Non-unionized advisers accept additionally consented to concessions. These factors contributed to abstain the blow appear at the alpha of July 2010 and to absolute the anniversary accident to the one registered at the end of the aboriginal ision of this year.""The measures taken during the aftermost year will additionally accord to the advance of the 2011 results. Thus, we apprehend a acknowledgment to advantage in the aboriginal ision of 2011, in animosity of sales lower than tse registered for the aforementioned ision in 2010" declares Bestar's president, Daniel Mercier."Also, approaches undertaken during the aftermost ision of 2010 accept actomed Bestar to install a new banking structure. A costs acceding was ured on March 16, 2011 with Wells Fargo Basic Finance Corporation Canada in backup of the Laurentian Bank.""Bestar is additionally actomed on with the advance of its new aculated angel sed in 2010, consisting of the barrage of its new Web site, the addition of a new logo and of redesigned auction aids" adds Mr. Mercier."2011 will be apparent by an acclimatization change in our appliance sector. Since our barter are our best advancing advantage, they will be at the affection of our development activity and our chump service.""The addition of two new modular collections (beginning of 2011) added to the tomized development projects mentioned aloft suld acquiesce Bestar to admit the aboriginal footfall of a five-year activity accepting the cold of alms to the bazaar a absolutely renewed ambit of ucts."This activity aculated to the angel and artefact face-lifting aims an all-embracing repositioning of the cast name in acclimation to access the perceived bulk and the abeyant margins" concludes Daniel Mercier.Results Summary
(Results in bags of dollars, except balance per share)
Q1 Q2 Q3 Q4 Total
Revenue 2008 10,950 9,569 10,605 9,304 40,4282009 11,523 8,565 8,702 8,381 37,1712010 10,140 7,171 8,874 7,555 33,740
Net balance (loss) 2008 (103) (277) (160) (1,074) (1,614)2009 206 1 65 (337) (65)2010 (113) (737) 3 (2) (849)
Earnings (loss) per 2008 0.01 (0.02) (0.01) (0.08) (0.12)common allotment 2009 0.02 0.00 0.00 0.00 (0.01)2010 (0.01) (0.06) 0.00 0.00 (0.07)
Fully adulterated balance 2008 0.01 (0.02) (0.01) (0.08) (0.12)(loss) per accepted allotment 2009 0.02 0.00 0.00 0.00 (0.01)2010 (0.01) (0.06) 0.00 0.00 (0.07)
Total Assets 2008 26,390 28,751 28,512 28,937 28,9372009 28,644 26,737 24,981 25,120 25,1202010 24,246 24,037 23,749 23,927 23,927
Net debt (1) 2008 6,742 8,987 9,259 8,198 8,1982009 8,696 7,955 6,568 7,836 7,8362010 7,324 7,137 6,609 6,383 6,383
Weighted boilerplate of 2008 13,038 13,038 13,038 13,038 13,038outstanding shares (in 2009 13,038 13,038 13,038 13,038 13,038tusands) 2010 13,038 13,038 13,038 13,038 13,038
----------------------------------------------------------------------------Note 1 : Net debt comprises coffer loans and the long-termdebt, net of cash.
Corporate ProfileFounded in 1948, Bestar Inc. designs, articles and distributes a all-inclusive arrangement of ready-to-emble appliance that accommodated chump needs in agreement of quality, architecture and functionality. During the aftermost years, Bestar has specialized in appointment appliance and broadcast its articles mainly in the United States and Canada. In acclimation to account a abatement in sales, Bestar developed a new business plan in 2006 which includes the accomplishment of components.The Company became accessible in 1986 and operates from its bulb in Lac-Megantic, Quebec, Canada.Bestar's shares are listed on the Canadian National Stock Barter ("CNSX") beneath the attribute "BES".Release DeclarationThis columnist absolution may accommodate advice and declarations on the approaching achievement of the Company that are, by nature, speculative. These declarations are based on suppositions, uncertainties and the best accessible appraisal of approaching contest by management. They are accountable to ertive accident factors such as barter rates, the growing antagonism from arising countries as able-bodied as clashing costs in raw actual and shipping.Sharelder InformationSharelders may acquisition this columnist absolution beneath the MARKETWIRE account book at www.marketwire.com , on SEDAR at www.sedar.com and on CNSX website at : www.cnsx.ca. The administration address and absolute banking statements for the year ured December 31, 2010 will be available, as anon as published, through the SEDAR database, on CNSX Web armpit and our Web armpit at www.bestar.ca.
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