CALGARY, Aug. 25, 2016 /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 2016 Q2 financial results.
For the three months ended June 30,
2016, Inventronics reported net income of $5,000, or 0.1
cents per share, on revenue of $1,080,000 compared to net income of $50,000, or 1.1
cents per share, on revenue of $1,317,000 for the three months ended
June 30, 2015. For the six
months ended June 30, 2016,
Inventronics reported a net loss of $203,000, or 4.6
cents per share, on revenue of $1,840,000 compared to a net loss of $148,000, or 3.4
cents per share, on revenue of $2,220,000 for the six months ended June 30, 2015.
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Selected Financial
Information
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Income
Highlights
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Three Months
Ended
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Six Months
Ended
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(in thousands of
dollars, except per share
amounts)
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June
30
2016
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June
30
2015
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June
30
2016
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June
30
2015
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Revenue
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1,080
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1,317
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1,840
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2,220
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EBITDA
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130
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175
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47
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101
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Net income
(loss)
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5
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50
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(203)
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(148)
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Basic earnings (loss)
per share
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0.1¢
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1.1¢
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(4.6)¢
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(3.4)¢
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Statement of
Financial Position Highlights
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(in thousands of
dollars)
As
at
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June
30
2016
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December
31
2015
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Working
capital
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252
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317
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Property, plant and
equipment
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2,383
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2,538
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Long-term debt,
excluding current portion
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2,252
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2,270
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Shareholders'
equity
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409
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612
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Further information about the financial results of the
Corporation can be found in the Corporation's unaudited interim
financial statements for the quarter ended June 30, 2016 and accompanying management's
discussion and analysis ("2016 Q2 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 2016 Q2 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