Despite a lack of communication in recent weeks, Marmion's first quarter financial report provides us with a glimpse into the company's recent performance.

Here are some of the highlights from MMIO's recent Quarterly filing:

• Q1 Revenue increased by more than 80% and 15.6% over Q4 and Q1 '07 respectively
• Income from operations was $140,514 compared to a loss of (45,144) during Q1 '07;
• Net loss of (75,895) compared to net losses of ($517,861) and ($427,000) for the first and fourth quarters of 2007 respectively;
• Approximately 33% of Q1 '08 revenues were attributable to equipment for the petrochemical industry and approximately 67% were attributable to the commercial division;
• Gross profit margin improvement of 8.7% to 24.5% over Q1 '07;
• Total Cost and Expenses increased approximately 6% over Q1 '07;
• G&A expenses decreased approximately 3.5% in the three months ended March 31, 2008 from the same year period in '07
• D&A expenses increased approximately 37% over Q1 '07; and
• Net cash used in operating expenses for the three months ended March 31, 2008 was $443,174 as compared to $147,286 for the three months ended March 31, 2007.

Labels: Marmion Industries, Marmion Industries Corp., MMIO