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Enablence Technologies Inc.: Enablence Technologies Inc. Announces Second Quarter Results for Fiscal 2009

^{Published on 2008-12-15 07:08:35 - Market Wire}
 

OTTAWA, ONTARIO--(Marketwire - Dec. 15, 2008) - Enablence Technologies Inc. ("Enablence" or the "Company") (TSX VENTURE:ENA), a leading supplier of fiber-to-the-home (FTTH) equipment for triple-play residential and business services and optical components and subsystems for access, metro and long haul markets, today announced financial results for its second quarter ended October 31, 2008.

Revenues for the second quarter of fiscal year 2009 were $8.8 million compared to the $7.6 million generated during the first quarter of fiscal year 2009 and $145,000 during the second quarter of fiscal year 2008. Enablence's total assets increased to $125 million at October 31, 2008 from $120 million at July 31, 2008. The Company's cash position was $32 million on October 31, 2008 as contrasted with $37 million on July 31, 2008. The net loss for the second quarter of fiscal 2009 was $7.7 million ($0.04 per share), of which $2.9 million consisted of non-cash charges. These charges were largely due to amortization as a result of an increased asset base driven by recent acquisitions. The net loss for the first quarter of fiscal year 2008 was $6.8 million ($0.04 per share), of which $2.3 million was non-cash charges.

"Enablence is pleased to report continued sales growth this quarter, especially in light of the current economic conditions" announced Arvind Chhatbar, the Chief Executive Officer of Enablence. "We are also pleased with the integration of the planar lightwave circuit (PLC) based transceiver optical block onto the Optical Network Terminal (ONT). This vertical integration of our technologies represents a major step forward for Enablence. Our goal is to continue integrating more of our internally produced components into our own products, thus capturing more of the value added elements of our business units to provide our customers with the best solutions at all times." explained Mr. Chhatbar.

Enablence will host a conference call on Monday, December 15, 2008 between 11:00 am and 11:30 am EST. All interested parties should call 1-888-952-4972. Management will respond to questions from analysts on this call.

Forward Looking Statements

The presentation of this information may contain forward looking statements that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business and the economic environment in which the business operates. All such statements are made pursuant to the 'safe harbour' provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution our readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results, conditions, actions or events to differ materially from current expectations. Please refer to the risks set forth in the Company's MD&A filings and Annual Information Form that can be found on SEDAR [ www.sedar.com ]. Enablence does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

This Press Release is neither reviewed nor approved by the TSX Venture Exchange.

About Enablence Technologies Inc.

Enablence Technologies Inc., (TSX VENTURE:ENA) is a global leader in optical communications headquartered in Ottawa, Ontario, Canada, designs, manufactures and sells optical components, subsystems and systems to a global customer base.

Enablence's FTTx Networks Division is an industry leader in optical broadband access systems. With an expanding Fiber-to-the-Premises (FTTP) product portfolio featuring a variety of architectural options, it enables services providers to evolve their access networks from traditional copper-based networks to advanced optical communications access networks that are based on IP and Ethernet standards, for triple play voice, video and data services.

The company's optical access platforms have been installed at over 420 communications service providers around the world in a variety of the Independent Operating Companies (IOC), Postal Telephone & Telegraph (PTT), Competitive Local Exchange Carrier (CLEC), Multiple Systems Operator (MSO), municipal, utility and real estate development companies to deliver next generation optical communications services.

The Enablence Optical Components and Subsystems division is a global leader in applying the Planar Lightwave Circuit (PLC) technology to integrate multiple components into a single optical chip to reduce footprint and costs. The designers of access, metro and long-haul next-generation networks turn to Enablence for innovative, smaller and faster components and subsystems. Products for access, metro and long-haul markets include transceivers, splitters, waveguides, optical channel monitors, multiplexers, ROADMs, switches, tunable dispersion compensators, and photodiodes.