Business
5N Plus Inc. Reports Fourth Quarter Results and Record Revenues and Earnings for Fiscal Year 2011
MONTREAL, Aug. 24, 2011 /CNW Telbec/ - 5N Plus Inc. (TSX: VNP), the leading producer of ...
About this update from 5n Plus Inc.
[{"type":"text","content":"\n\n\n\n\n\nMONTREAL, Aug. 24, 2011 /CNW Telbec/ - 5N Plus Inc. (TSX: VNP), the\n leading producer of specialty metal and chemical products, today\n reported financial results for its fourth quarter and fiscal year ended\n May 31, 2011 in which revenues, earnings, EBITDA, funds from operations\n and backlog all reached record levels.\n\n\nOn April 11, 2011, 5N Plus announced that it had completed the\n acquisition of MCP Group SA. Results for the quarter and year ended May\n 31, 2011 include the operating results of MCP from the date of\n acquisition. 5N Plus now operates and reports operating performance\n under two business segments, namely Electronic Materials and\n Eco-Friendly Materials.\n\n\nRevenues for the fourth quarter ended May 31, 2011 reached $119.8\n million, an increase of 507% over revenues of $19.7 million for the\n fourth quarter of the last fiscal year. Revenues for the fiscal year\n ended May 31, 2011 were $178.8 million up by 153% over revenues of\n $70.8 million in the last fiscal year. The backlog of orders expected\n to translate into sales over the next twelve months was $253.8 million\n as at May 31, 2011 compared to $52.7 million one year earlier.\n\n\nNet earnings from continuing operations for the fourth quarter were\n $10.0 million or $0.17 per share, representing a 130% increase compared\n to net earnings from operations of $4.4 million or $0.09 per share for\n the fourth quarter of the last fiscal year. For the fiscal year ended\n May 31, 2011, net earnings from continuing operations were $21.6\n million or $0.44 per share, which is 43% higher than in the last fiscal\n year where net earnings from continuing operations were $15.1 million\n or $0.33 per share.\n\n\nEBITDA for the fourth quarter increased by 209% to $19.2 million up from\n $6.2 million for the fourth quarter of the previous fiscal year. EBITDA\n reached $36.8 million for the fiscal year ended May 31, 2011, an\n increase of 60% compared to EBITDA of $22.9 million in the last fiscal\n year.\n\n\nFunds from operations, which is defined as the amount of cash generated\n from operating activities before changes in non-cash working capital,\n increased to $13.1 million in the fourth quarter and $29.6 million in\n the fiscal year ended May 31, 2011. This compares to $5.7 million and\n $20.4 million, respectively, for th...