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Covalon Releases Third Quarter 2009 Financial Results
MISSISSAUGA, ONTARIO--(Marketwire - Aug. 28, 2009) - Covalon Technologies Ltd. (TSX VENTURE:COV) announces the release of its financial statements for the third quarter of fiscal 2009 ending June 30, 2009. Revenues from product sales, coating services and licensing fees for the three months ended June 30, 2009 were $401,837, an increase of $64,575 over the same period in the previous year. Total operating expenses excluding product were $1,339,495 for the three months ended June 30, 2009 a decrease of $559,691 from the three months ended March 31, 2009. At June 30, 2009, the Company had $7.8 million in cash and cash equivalents available for use.
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