Nevada Chemicals, Inc. Announces 1st Quarter 2007 Earnings.SALT LAKE CITY -- John T. Day, President and Chief Executive Officer of Nevada Chemicals, Inc. (NASDAQ/NMS: NCEM NCEM Northwest Center for Environmental Medicine (Bellevue, Washington) ), today announced earnings for the first quarter ended March 31, 2007. The Company had net income of $777,000 or $0.11 a share compared to $1,078,000 or $0.15 per share in the first quarter of 2006. The decrease in earnings over the first quarter of 2006 is due primarily to decreased earnings from our joint venture Cyanco, partially offset by decreased legal and professional fees at Nevada Chemicals and the reduction of our reserve for tax contingencies. During the first quarter of 2007, Cyanco had decreased revenues as compared to the first quarter of the prior year, due primarily to a decrease in product sales to customers and the cyclical cyclical Of or relating to a variable, such as housing starts, car sales, or the price of a certain stock, that is subject to regular or irregular up-and-down movements. "lag effect" in its historical cost plus pricing agreements that benefited the prior year quarter. The Company anticipates continued volatility in the cost of raw materials. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Day, there continues to be interest on the part of the gold mines to review strategies to exploit the highest gold price in 25 years and he stated that mining operations continue to be bullish on the future of gold. Cyanco is a 50/50 joint venture company of Nevada Chemicals, Inc. and Degussa Corporation. Cyanco has produced and marketed liquid sodium cyanide sodium cyanide n. A poisonous white crystalline compound, NaCN, used in extracting gold and silver from ores and in dye manufacture. Noun 1. to the western United States Noun 1. western United States - the region of the United States lying to the west of the Mississippi River West Santa Fe Trail - a trail that extends from Missouri to New Mexico; an important route for settlers moving west in the 19th century gold mining region for the past 17 years. [TABLE OMITTED] Note: The foregoing contains "forward-looking" statements that are pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Reform Act of 1995. Editors and investors are cautioned that forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. involve risks and uncertainties that may affect the Company's business prospects and performance. These include, but are not limited to, economic, competitive, governmental, technological and other factors discussed in the Company's reports to shareholders and periodic filings with the Securities and Exchange Commission. |
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