TORONTO, July 29 /CNW/ - Exco Technologies Limited (TSX-XTC) today announced results for its third quarter ended June 30, 2008. In addition, the Company announced that a quarterly cash dividend of $0.0175 per share will be paid September 30, 2008 to shareholders of record on September 15, 2008. The dividend is an "eligible dividend" in accordance with the Income Tax Act of Canada.

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                                9 Months ended          3 Months ended
                                    June 30                 June 30
                                  ($000s, except per share amounts)
                                2008        2007        2008        2007
                                ----        ----        ----        ----
Sales                       $151,549    $151,274     $47,677     $51,574
Net income from
 continuing operations        $7,355      $6,546      $3,147      $2,254
Net loss from discontinued
 operations                    ($111)    ($1,411)       ($62)       ($86)
Net income                    $7,244      $5,135      $3,085      $2,168
Basic and diluted earnings
 per share from continuing
 operations                    $0.18       $0.16       $0.08       $0.05
Basic and diluted loss
 per share from
 discontinued operations      ($0.00)     ($0.04)     ($0.00)     ($0.00)
Basic and diluted earnings
 per share                     $0.18       $0.12       $0.08       $0.05
Common shares outstanding     40,989      41,448      40,989      41,448
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The financial results for the three months ended June 30, 2007 and nine months ended June 30, 2007 have been restated to reflect the classification of Exco's Techmire business as a discontinued operation.

Consolidated sales from continuing operations for the quarter ended June 30, 2008 were $47.7 million compared to $51.6 million last year - a decrease of $3.9 million or 7.6%. Year-to-date sales were $151.5 million - an increase of $0.3 million or 0.2% compared to last year. The Canadian dollar was effectively 'at par' with the US dollar during the quarter and year to date. Reported profitability during the quarter demonstrates that the Company's efforts to adapt to the strong Canadian dollar and rising material cost have been taking effect. The timing of shipments in the large mould businesses accounted for most of the sales weakness in the Casting and Extrusion segment and declining production levels among our North American automotive customers impacted sales in the Automotive Solutions segment.

Net income from continuing operations for the quarter was up by 39.6% to $3.1 million or $0.08 per share compared to $2.3 million or $0.05 per share last year.