CALGARY,
Aug. 27, 2013 /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 2013 second quarter financial
results.
For the three months ended June 30, 2013, Inventronics reported net income
of $49,000, or 1.1 cents per share, on revenue of $1,403,000 compared to a net loss of $53,000, or 1.2
cents per share, on revenue of $1,282,000 for the comparative period of
2012. For the six months ended June
30, 2013, Inventronics reported a net loss of $61,000, or 1.4
cents per share, on revenue of $2,545,000 compared to a net loss of $90,000, or 2.1
cents per share, on revenue of $2,458,000 for the comparative period of
2012.
| Selected Financial
Information |
| |
|
|
|
|
Income Highlights
(in thousands of dollars, except per share
amounts) |
Three Months Ended |
Six Months
Ended |
| |
June 30
2013 |
June 30
2012 |
June 30
2013 |
June 30
2012 |
| |
|
|
|
|
| Revenue |
1,403 |
1,282 |
2,545 |
2,458 |
| EBITDA |
179 |
80 |
209 |
169 |
| Net income (loss) |
49 |
(53) |
(61) |
(90) |
| Basis earnings (loss) per share |
1.1¢ |
(1.2)¢ |
(1.4)¢ |
(2.1)¢ |
| |
|
|
|
|
Statement of Financial Position
Highlights
(in thousands of dollars) |
|
|
| As at |
June 30
2013 |
December 31
2012 |
| |
|
|
| Working capital |
443 |
355 |
| Property, plant and equipment |
3,271 |
3,431 |
| Long-term debt, excluding current portion |
2,351 |
2,365 |
| Total long-term debt |
2,378 |
2,390 |
| Shareholders' equity |
1,393 |
1,452 |
| |
|
|
| |
|
|
Further information about the financial results
of the Corporation can be found in the Corporation's interim
financial statements for the quarter ended June 30, 2013 and accompanying management's
discussion and analysis 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 operates from
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 Annual 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