CALGARY, May 14, 2014 /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 2014 first quarter financial results.
For the three months ended March 31,
2014, Inventronics reported a net loss of $101,000, or 2.3
cents per share, on revenue of $1,130,000 compared to a net loss of $110,000, or 2.5
cents per share, on revenue of $1,142,000, for the three months ended
March 31, 2013.
Selected Financial
Information
|
|
|
|
|
|
Income
Highlights
(in thousands of
dollars, except per share amounts)
|
|
Three Months
Ended
|
|
|
|
March
31
2014
|
March
31
2013
|
Revenue
|
|
|
1,130
|
1,142
|
EBITDA
|
|
|
25
|
31
|
Net loss
|
|
|
(101)
|
(110)
|
Basic loss per
share
|
|
|
(2.3)¢
|
(2.5)¢
|
|
|
|
Statement of
Financial Position Highlights
(in thousands of
dollars)
|
|
|
As
at
|
March
31
2014
|
December
31
2013
|
Working
capital
|
547
|
577
|
Property, plant and
equipment
|
3,057
|
3,134
|
Long-term debt,
excluding current portion
|
2,330
|
2,338
|
Total long-term
debt
|
2,358
|
2,365
|
Shareholders'
equity
|
1,303
|
1,403
|
Further information about the financial results of the
Corporation can be found in the Corporation's interim financial
statements for the quarter ended March 31,
2014 and accompanying management's discussion and analysis
(the "2014 Q1 MD&A") which have been filed on SEDAR at
www.sedar.com.
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.
Non-IFRS Measures
Earnings before interest, tax, depreciation and amortization
("EBITDA"), as presented in this press release, is not a
recognized measure under International Financial Reporting
Standards ("IFRS"). However, management believes that
EBITDA is a useful supplementary measure to net earnings, as it
provides investors with an indication of cash earnings prior to
debt service, capital expenditure, income tax and non-cash items.
Readers should be cautioned, however, that EBITDA should not be
construed as an alternative to net earnings determined in
accordance with IFRS as an indicator of the Corporation's
performance or to cash flows from operating, investing and
financing activities as a measure of liquidity or cash flows. The
Corporation's method of calculating EBITDA may differ from the
methods by which other companies calculate EBITDA and, accordingly,
the EBITDA used herein may not be comparable to measures used by
other companies. For further information relating to how the
Corporation calculates EBITDA, including a reconciliation of EBITDA
to net earnings, please see the 2014 Q1 MD&A.
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.
SOURCE Inventronics Limited