MONTREAL, March 9, 2016 /CNW Telbec/ - Imaflex Inc. (TSXV:
IFX) anticipates top-line revenue of approximately $69-million for the year ended December 31, 2015, as compared to $60-million for the year ended December 31, 2014, representing more than a 10%
increase. The company anticipates releasing its full audited fiscal
2015 financial results in April
2016.
"We are pleased with the pace of growth from our legacy plastic
business," commented Joe
Abbandonato, President and Chief Executive Officer of
Imaflex. "With our U.S. operations becoming profitable in the
second half of 2015, we now have all our business segments
positively contributing to our bottom line. This ongoing trend
should positively impact our profitability for the foreseeable
future."
Mr. Abbandonato added, "I am also pleased with the progress we
made in 2015 with our proprietary agricultural film products,
ADVASEAL and SHINE N' RIPE XL. We have just completed a
successful commercial trial for ADVASEAL with top growers in the
U.S. As expected, the growers were very pleased with the
convenience and efficacy of the product. We continue to expect
growers to take a measured approach towards the adoption of both
ADVASEAL and SHINE N' RIPE XL, as they acquaint themselves with
these highly differentiated products."
Imaflex is also pleased to announce its corporate goals and
objectives for 2016:
- Sustaining revenue growth, with 2016 revenue projected to
increase at a similar pace as in 2015
- Improving profitability in 2016 compared to 2015
- Increasing awareness and exposure amongst growers for ADVASEAL
and SHINE N' RIPE XL
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Statement on Forward Looking Information
Certain information included in this press release constitutes
"forward-looking" statements within the meaning of Canadian
securities laws. Forward-looking statements are necessarily based
upon a number of estimates and assumptions that, while considered
reasonable by the management of the Corporation, are inherently
subject to significant business, economic and competitive
uncertainties, risks and contingencies. The Corporation cautions
the reader that such forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause the
actual financial results, performance or achievements of Imaflex to
be materially different from the Corporation's estimated future
results, performance or achievements expressed or implied by those
forward-looking statements and that the forward-looking statements
are not guarantees of future performance. These statements are also
based on certain factors and assumptions. For more details on these
estimates, risks, assumptions and factors, see the Corporation's
most recent Management Discussion and Analysis filed on SEDAR. The
Corporation disclaims any obligation to update or revise any
forward-looking statements, whether as a result of new information,
events or otherwise, except as expressly required by law. Readers
are cautioned not to put undue reliance on these forward-looking
statements.
SOURCE Imaflex Inc.