Circa Enterprises Inc. Announces Notification of Increase in Customer Orders
CALGARY, Oct. 11, 2011 /CNW/ - Circa Enterprises Inc.
('Circa' or the 'Corporation') announced today that it has been notified by a major customer that the customer plans to significantly increase its orders for surge protection units manufactured by the Corporation to enable the customer to satisfy its obligations under a confidential third party supply agreement.Circa has supplied this customer with surge protection units under a supply agreement since 2005 and the customer has asked the Corporation to position itself to receive new orders for surge protection units and commence manufacturing an increased number of units effective immediately. The Corporation has not been provided with forecast information respecting future deliveries of surge protection units to this customer and is, at this time, unable to estimate the financial effect of new sales on its revenue and profitability.
Mr. Ivan Smith, the President and Chief Executive Officer of the Corporation noted that: 'Sales of surge protection devices represent a significant portion of Circa's overall sales revenue and we are pleased that one of our major customers has asked us to service its requirements for an increased number of surge protection units. The Corporation is in a position to ramp up its production of surge protection models without a significant escalation in its cost of sales.'
Circa Enterprises Inc. is a public company with offices in Alberta, Ontario and Florida. The outstanding common shares of Circa Enterprises Inc. are listed and trade on the TSX Venture Exchange under the ticker symbol CTO. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Circa Enterprises Inc.
CONTACT: Mr. Ivan Smith, President and CEO, Circa Enterprises Inc., (403)
258-2011; Mr. Cory Tamagi, VP Finance and CFO, Circa Enterprises Inc.,
(403) 258-2011, E-Mail: investor@circaent.com,
Website: www.circaent.com