Davie Yards Inc
			Symbol			DAV
			Shares Issued			368,646,205
			Close 2009-11-11			C$ 0.10
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Davie Yards loses $6.3-million in Q3

2009-11-11 14:14 ET - News Release

Mr. Alain Tanguay reports

DAVIE YARDS INC. RELEASES THIRD QUARTER 2009 RESULTS

Davie Yards Inc. has released its results for the third quarter and nine-month period that ended Sept. 30, 2009.

Net loss for the third quarter of 2009 was $6.3-million (two-cent loss per share on a diluted basis), compared with a net income of $3.3-million (three cents per share on a diluted basis) for the third quarter of 2008.

For the nine-month period that ended Sept. 30, 2009, net loss was reduced by 69 per cent to $15.8-million (six-cent loss per share on a diluted basis), compared with a net loss of $51.5-million (44-cent loss per share on a diluted basis) for the same period in 2008.

The net loss for the third quarter of 2009 was mainly due to foreign currency exposures, which negatively impacted results of operations by approximately $4-million during the quarter compared with a positive foreign currency gain of approximately $11-million for the same period one year ago.

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