Business
Results for the first quarter ended April 30, 2014
TERREBONNE, QC , June 11, 2014 /CNW Telbec/ - ADF GROUP INC. ("ADF" or the "Corporation...
About this update from Adf Group Inc.
[{"type":"text","content":"\n\nTERREBONNE, QC, June 11, 2014 /CNW Telbec/ - ADF GROUP INC. (\"ADF\" or the \"Corporation\") (TSX: DRX) closed the first quarter of the 2015 fiscal year with revenues of $24.4 million compared with $12.3 million during the same period the previous fiscal year.\n\nThe gross margin, in dollar value, at $2.8 million, increased by $1.5 million during the three-month period ended April 30, 2014 compared with the same period of the 2014 fiscal year, due mostly to the increase in fabrication and installation volume. As a percentage of revenues, the gross margin remained fairly stable at 11.6% during the three-month period ended April 30, 2014.\n\nThe Corporation closed the first quarter ended April 30, 2014 with a net profit of $0.5 million ($0.01 basic and diluted per share), compared with a net loss of $0.3 million ($0.01 basic and diluted per share) in the same period the previous year.\n\nAs at April 30, 2014, the Corporation had a working capital of $32.7 million, of which $19.5 million in short-term available liquidities (cash, cash equivalents and short-term investments). Available liquidities thus exceeded the Corporation's total debt by $9.7 million, placing the Corporation in a solid position to support its ongoing operations, carry out its development projects and remunerate its shareholders in accordance with the dividend payment policy implemented at the beginning of fiscal 2012.\n\nFinancial Highlights\n\n\n\n\nThree-Month Periods Ended April 30,\n\n\n2014\n\n\n2013\n\n\n\n(In thousands of dollars, and dollars per share)\n\n\n$\n\n\n$\n\n\n\nRevenues\n\n\n24,402\n\n\n12,276\n\n\n\nEBITDA\n\n\n1,406\n\n\n475\n\n\n\nNet income\n\n\n471\n\n\n(269)\n\n\n\n—    Per share (basic and diluted)\n\n\n0.01\n\n\n(0.01)\n\n\n\nCash flows from (used in) operating activities\n\n\n(1,495)\n\n\n62\n\n\n\nAverage number of outstanding shares (basic, in thousands)\n\n\n32,491\n\n\n32,451\n\n\n\nAverage number of outstanding shares (diluted, in thousands)\n\n\n33,308\n\n\n32,451\n\n Outlook\n\n\"With liquidities, net of debt, of close to $10 million, state-of-the-art assets in Terrebonne and in Great Falls and a solid expertise, we look to the future with optimism. However, given the continued pressure on prices in our markets and the start-up of our new plant in Montana, we foresee that fiscal 2015 w...