BURNABY, BC, May 12 /CNW/ - International Water-Guard Industries Inc. today announced its financial results for the second quarter fiscal 2010 ended March 31, 2010 .

The Company reported sales of $1,193,657 compared to $1,325,494 for the same quarter of the previous year. Second quarter net earnings were $16,330 compared to $39,165 in the previous year. While equipment unit sales were similar to a year earlier, the lower value of the U.S. dollar impacted Canadian dollar revenue as well as margin rates and reported earnings. Six month sales to March 31st were $2,229,865 compared to $2,540,410 in the prior year. Six month net earnings were $31,502 compared to $99,285 a year earlier.

"Overall, we are continuing to see a more positive business outlook," said David Fox , IWG's president & CEO. "Unfortunately, the weak US dollar has continued to have an impact on our bottom line in this quarter. We are maintaining our initiatives towards future opportunities and growth."

The results for the quarter provide 0.0 cents net earnings per share in the second quarter (0.1 cents year-to-date) compared to net earnings of 0.1 cents per share in the second quarter last year (0.3 cents year-to-date) on both a basic and fully diluted basis. The full version of the Company's financial statements can be viewed at www.sedar.com and on IWG's website.