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NEWS RELEASE PERFECT FRY CORPORATION For Immediate Release Perfect Fry Reports Third Quarter Results CALGARY (September 29, 2004) - Perfect Fry reports revenues for the nine months ending July 31, 2004 of $2,417,674 down from revenues of $2,816,370 for the same period last year. Similarly, earnings decreased from $193,187 at July 31, 2003 to $118,304 at July 31, 2004. The fluctuating US exchange rate remains a factor in declining revenues for the end of the third quarter compared to figures for the same period a year ago. In addition, explains Perfect Fry President and CEO Gary Calderwood, last year's Canadian sales were high because of a large one-time order placed by an Eastern Canadian chain. This year's sales weren't targeted to repeat last year's spike in Canadian revenues. "Our product and our service remain consistent in a highly competitive industry," says Calderwood. "We have launched a brand new complementary product-the Heated Merchandiser-which is already winning positive reviews in the marketplace. I'm encouraged by revenue opportunities both at home and overseas." Third Quarter Results 2004 and 2003:
As at July 31, 2004, the Company had 9,788,656 common shares issued and outstanding. Perfect Fry manufactures and markets the world's most sophisticated counter-top deep fryer. Its patented air filtration and fire prevention systems, compact design, and quick, clean operation have made the Perfect Fryer a preferred choice among fast food retailers across North America and around the world. The common shares of Perfect Fry are listed for trading under the symbol PNM on the TSX Venture Exchange. The corporation maintains an exemption from the SEC pursuant to Rule 12g3-2(b) under Commission File Number 82-1609. The TSX Venture Exchange does not accept responsibility for
the adequacy or accuracy of this release. Contact: Sharon Haasdyk |
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