Business
5N Plus Inc. Reports Financial Results for the Second Quarter Ended June 30, 2014
MONTREAL , Aug. 7, 2014 /CNW Telbec/ - 5N Plus Inc. (TSX: VNP), the leading producer of ...
About this update from 5n Plus Inc.
[{"type":"text","content":"\n\n\nMONTREAL, Aug. 7, 2014 /CNW Telbec/ - 5N Plus Inc. (TSX: VNP), the\n leading producer of specialty metal and chemical products, today\n reported financial results for the second quarter ended June 30, 2014.\n\n\n\n\n\n\nRevenues for the second quarter of 2014 reached $136.6 million, which\n corresponds to an increase of $24.0 million or 21% compared to $112.6\n million for the second quarter of 2013.\n\n\n\n\nAdjusted EBITDA1 for the second quarter of 2014 also reached its highest level in the\n last 8 quarters, attaining $10.8 million up from $6.5 million for the\n second quarter of 2013 with EBITDA1,2 lying at $11.5 million also close to its highest level since the last 8\n quarters when excluding the impact of the non-recurring gain recorded\n in the second quarter of 2013.\n\n\n\n\nNet earnings for the second quarter of 2014 reached $4.4 million or\n $0.05 per share compared to $34.3 million or $0.41 per share for the\n second quarter of 2013, positively impacted by the MCP litigation\n settlement of $45.2 million or $0.54 per share.\n\n\n\n\nNet debt1 stood at $70.4 million, up from March 31, 2014 but down from $84.7\n million as at June 30, 2013.\n\n\n\n\nBookings1 of $99.6 million in the quarter, in line with the second quarter of\n 2013. Bookings for the six-month period ended June 30, 2014 increased\n by 19% and stood at $259.3 million compared to $218.5 million for the\n same period last year.\n\n\n\n\nOn April 3, 2014, 5N Plus announced that it had acquired the remaining\n 33.33% ownership interest in its subsidiary Sylarus Technologies, LLC,\n located in St. George, Utah, and had changed its name to 5N Plus\n Semiconductors LLC.\n\n\n\n\nOn May 5, 2014, 5N Plus announced that it had completed the acquisition\n of all of the issued and outstanding shares in the capital of AM&M\n Advanced Machine and Materials Inc. (\"AM&M\").\n\n\n\n\nOn May 29, 2014,  5N Plus announced that it had entered into new supply\n agreements with First Solar, Inc., the world's leading thin-film solar\n module manufacturer, covering First Solar's compound semiconductor\n needs until March 31, 2019.\n\n\n\n\nOn June 26, 2014, 5N Plus announced the closing of its offering of CA$60\n million of convertible unsecured subordinated debentures and that the\n underwriters had purchased an additional CA$6 million.\n\n\n\n\n\n\n\n\n\...