5N Plus Inc. Reports Third Quarter Results for Fiscal Year 2011 and Record Sales and Backlog Levels

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[{"type":"text","content":"\n\n\n Apr. 11, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\nMONTREAL, April 11 /CNW Telbec/ - 5N Plus Inc. (TSX:VNP), a leading producer of specialty metal and chemical products, today reported financial results for its third quarter ended February 28, 2011, in which sales and backlog reached record levels.\nSales for the third quarter ended February 28, 2011 increased by 7% to an historical high of $20,582,100 compared to $19,227,127 for the third quarter of fiscal year 2010. For the nine-month period ended February 28, 2011, sales increased by 15.6% to $59,020,206 compared to $51,033,792 for the same period last year.\nThe backlog of orders expected to translate into sales over the next twelve months also reached a record level of $71,244,746 as at February 28, 2011, which is 32.4% higher than the corresponding backlog of $53,791,253 one year earlier. Changes in currency exchange rates had an adverse impact of approximately $5.7 million on the backlog.\nGross profit reached $8,651,719 or 42.0% of sales compared to $8,203,533 or 42.7% of sales for the third quarter of the previous fiscal year. For the nine-month period ended February 28, 2011, gross profit increased to $25,866,213 or 43.8% of sales, up from $23,181,344 or 45.4% of sales for the same period last year.\nEBITDA reached $5,979,533 or 29.1% of sales compared to $6,262,328 or 32.6% of sales for the third quarter of the previous fiscal year. EBITDA was adversely affected by (i) SG&A expenses related to the acquisit...

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