Inventronics Announces 2011 Q2 Financial Results
18 Agosto 2011 - 6:34PM
PR Newswire (Canada)
CALGARY, Aug. 18, 2011 /CNW/ -- CALGARY, Aug. 18, 2011 /CNW/ -
Inventronics Limited ("Inventronics" or the "Corporation") (IVX:TSX
Venture), a designer and manufacturer of custom enclosures for the
telecommunications, electric transmission, cable television and
other industries in North America, today announced its unaudited
2011 second quarter financial results. For the three months ended
June 30, 2011, Inventronics reported net earnings of $63,000, or
1.4 cents per share, on sales of $1,564,000 compared to a net loss
of $337,000, or 7.7 cents per share, on sales of $993,000, for the
second quarter of 2010. For the six months ended June 30,
2011, Inventronics reported a net loss of $46,000, or 1.1 cents per
share, on sales of $2,726,000 compared to a net loss of $451,000,
or 10.2 cents per share, on sales of $2,553,000, for the six months
ended June 30, 2010. Selected Financial Information Income
Statement Highlights (in thousands of dollars, except per share
amounts) Three Months Ended Six Months Ended June 30 June 30 June
30 June 30 2011 2010 2011 2010 Sales 1,564 993 2,726 2,553 EBITDA
248 (143) 326 (61) Net earnings (loss) 63 (337) (46) (451) Basis
loss per share 1.4¢ (7.7)¢ (1.1)¢ (10.2)¢ Balance Sheet Highlights
(in thousands of dollars) June 30 December 2011 31 As at 2010
Working (2,030) (2,258) capital Capital 3,839 4,113 assets
Long-term - - debt, excluding current portion Shareholders' 1,809
1,855 equity About Inventronics Inventronics Limited designs and
manufactures custom enclosures and other products for an array of
customers in the telecommunications, electric utility, cable
television, electronics and computer services industries in North
America. The Corporation owns its ISO 9001-registered production
facility in Brandon, Manitoba. Shares of Inventronics trade on the
TSX Venture Exchange under the symbol "IVX." For more information
about the Corporation, its products and its services, go to
www.inventronics.com. Disclaimer This news release may contain
forward looking information that represents the Corporation's
internal projections, expectations, estimates or beliefs
concerning, among other things, future operating results and
various components thereof or the Corporation's future economic
performance. These statements relate to future events or
future performance. All statements other than the statements
of historical fact may be forward-looking statements. In some
cases, forward-looking statements can be identified by terminology
such as "may", "will", "should", "expects", "projects", "plans",
"anticipates", and similar expressions. The projections,
estimates and beliefs contained in such forward-looking statements
are based on management's assumptions relating to the production
performance of Inventronics' assets, the cost and competition
throughout the telecommunications industry and the continuation of
the current regulatory and tax regimes in the jurisdictions in
which the Corporation operates, and necessarily involve known and
unknown risks and uncertainties, including risks and assumptions
relating to exchange rates, costs of production, outlook for sales,
and other factors that may cause actual performance and financial
results in future periods to differ materially from any projections
of future performance or results expressed or implied by such
forward-looking statements. Accordingly, readers are
cautioned that events or circumstances could cause results to
differ materially from those predicted. Except as otherwise
required under applicable securities laws, the Corporation does not
undertake to update any forward-looking information in this
document whether as to new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this
release. To view this news release in HTML formatting, please use
the following URL:
http://www.newswire.ca/en/releases/archive/August2011/18/c4683.html
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