CALGARY,
April 28, 2015 /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 audited 2014 annual financial
results.
For the year ended December 31, 2014, Inventronics reported a net
loss of $380,000, or 8.6 cents per share, on revenue of $4,872,000 compared to a net loss of $54,000, or 1.2
cents per share, on revenue of $5,577,000 for the 2013 fiscal year.
For the three months ended December 31, 2014, Inventronics reported a net
loss of $237,000, or 5.4 cents per share, on revenue of $880,000 compared to a net loss of $161,000, or 3.7
cents per share, on revenue of $1,177,000, for the three months ended
December 31, 2013.
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Selected Financial
Information
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Income
Highlights
(in thousands of
dollars, except per share amounts)
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Three Months
Ended
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Twelve Months
Ended
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Dec.31
2014
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Dec.31
2013
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Dec.31
2014
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Dec.31
2013
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Revenue
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880
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1,177
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4,872
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5,577
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EBITDA
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(114)
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(38)
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123
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467
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Net loss
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(237)
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(161)
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(380)
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(54)
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Basic loss per
share
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(5.4)¢
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(3.7)¢
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(8.6)¢
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(1.2)¢
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Statement of
Financial Position Highlights
(in thousands of
dollars)
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As
at
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December
31
2014
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December
31
2013
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Working
capital
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484
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577
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Property, plant and
equipment
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2,818
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3,134
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Long-term debt,
excluding current portion
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2,304
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2,338
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Shareholders'
equity
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1,026
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1,403
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Further information about the financial results
of the Corporation can be found in the Corporation's audited annual
financial statements for the year ended December 31, 2014 and accompanying management's
discussion and analysis ("2014 Annual 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, oil and
gas, 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 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