5N Plus Inc. Reports Results for the Third Quarter Ended September 30, 2013

About this update from 5n Plus Inc.

[{"type":"text","content":"\n\n\nMONTREAL, Nov. 11, 2013 /CNW Telbec/ - 5N Plus Inc. (TSX: VNP), the\n leading producer of specialty metal and chemical products, today\n reported financial results for the third quarter ended September 30,\n 2013.\n\n\n\nEBITDA1 reached $5.8 million in the quarter and $12.3 million in the nine-month\n period ended September 2013, compared to $9.0 million and $5.4 million\n for the same periods of the last year.\n\n\n\n\nNet debt1 decreased to $63.5 million down from $84.7 million on June 30, 2013,\n and $136.5 million on December 31, 2012.  Total debt also decreased to\n $79.7 million down from $148.4 million on December 31, 2012.\n\n\n\n\nNet earnings reached $1.3 million or $0.02 per share in the quarter and\n adjusted net earnings1 $1.5 million or $0.02 per share compared to $1.3 million or $0.02 per\n share and $0.6 million or $0.01 per share the same period last year. \n For the nine-month period ended September 30, 2013 net earnings reached\n $41.1 million or $0.49 per share and adjusted net earnings $8.8 million\n or $0.11 per share compared to net losses of $16.0 million or ($0.21)\n per share and adjusted net earnings of $4.0 million or $0.05 per share\n the same period last year.\n\n\n\n\nRevenues for Q3 2013 were $108.6 million and $339.6 million for the\n nine-month period ended September 2013 compared with revenues of $120.7\n million and $423.1 million for the corresponding periods of the last\n fiscal year.\n\n\n\n\nBookings1 decreased by 6% to $88.6 million compared to $94.1 million in the third\n quarter of last year.  Bookings for the nine-month period ended\n September 30, 2013 decreased to $307.2 million compared to $362.2\n million for the same period last year.  Backlog1 as at September 30, 2013 stood at $133.4 million which compares to\n backlog of $162.3 million one year ago.\n\n\n\nJacques L'Ecuyer, President and Chief Executive Officer, said \"Earnings,\n and EBITDA recovered somewhat during the quarter despite the\n competitive landscape and the fact that we sold fully valued\n inventories during most of the period. Demand for our products remained\n strong especially in the Eco-Friendly Materials business unit where\n sales of bismuth bearing products are now on track to reach record\n levels for the year.  Revenues failed to fully capture this, however,\n decreasin...

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