Alujain Corp. — Earnings Release 2008

Oct 28, 2008

Alujain announces its Financial Results for the period ending 30th Sep 2008

2170 · 28/10/2008 16:42:19 · Announcement #13945 · View on Saudi Exchange

Alujain announces its Financial Results for the period ending 30th Sep 2008

Alujain?s consolidated financial results for the nine months ending 30 Sep 2008 showed a net loss of SR34,883,472 (including share of subsidiary?s loss of SR28,128,098) compared to net loss of SR20,399,475 during the same period in 2007 with an increase of 71%. The increase during the period was mainly due to increase in general and administrative expenses as well as the incurred losses in fair value of derivatives of the subsidiary company. The consolidated operating loss for the period ending 30 Sep 2008 was SR48,888,404 as compared to an operating loss of SR18,565,444 during the same period in 2007 with an increase of 163%. Loss per common share for the period was SR0.50 compared to a loss of SR0.29 during the same period in 2007 with an increase of 72%. The consolidated net loss for the 3rd quarter was SR10,171,290 compared to a net loss of SR13,947,437 during the same period in 2007 with a decrease of 27%. The decrease in Q3-2008 net loss over the same period last year was mainly due to decrease in general and administrative expenses .

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