Inventronics Announces 2011 Q3 Financial Results
26 Novembre 2011 - 8:57PM
PR Newswire (Canada)
CALGARY, Nov. 29, 2011 /CNW/ - Inventronics Limited ("Inventronics"
or the "Corporation") , 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 third quarter financial results. For the three
months ended September 30, 2011, Inventronics reported a net loss
of $79,000, or 1.8 cents per share, on sales of $1,161,000 compared
to net earnings of $4,000, or 0.1 cents per share, on sales of
$1,318,000 for the third quarter of 2010. For the nine months
ended September 30, 2011, Inventronics reported a net loss of
$27,000, or 0.6 cents per share, on sales of $3,887,000 compared to
a net loss of $447,000, or 10.1 cents per share, on sales of
$3,871,000, for the nine months ended September 30, 2010. During
the third quarter of 2011, Inventronics completed a review of
useful lives and residual values for its most significant assets
and, in accordance with IFRS, accounted for the resulting
adjustment prospectively effective the beginning of the current
fiscal year. The effect was to reduce quarterly depreciation
expense to approximately $90,000 from $140,000 and to reduce the
estimated annual depreciation for 2011 to $369,000 from
$565,000. Inventronics will not issue restated interim
financial statements for previously released affected period which
consist of the first and second quarters of 2011. Selected
Financial Information Income Statement Highlights (in thousands of
dollars, except per share amounts) ThreeMonthsEnded Nine Months
Ended Sept 30 Sept 30 Sept 30 Sept 30 2011 2010 2011 2010 Sales
1,161 1,318 3,887 3,871 EBITDA 54 200 380 139 Net earnings (loss)
(79) 4 (27) (447) Basis earnings (loss) per share (1.8)¢ 0.1¢
(0.6)¢ (10.1)¢ Balance Sheet Highlights (in thousands of dollars)
September 30 December 31 As at 2011 2010 Working capital (2,026)
(2,258) Capital assets 3,854 4,113 Long-term debt, excluding
current portion - - Shareholders' equity 1,828 1,855 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.
Inventronics Limited CONTACT: W. Garth Wilson, CFO (204) 728-2001
investor@inventronics.com
Copyright
Grafico Azioni Inventronics (TSXV:IVX)
Storico
Da Ago 2024 a Set 2024
Grafico Azioni Inventronics (TSXV:IVX)
Storico
Da Set 2023 a Set 2024