Business
Results for the Fiscal Year Ended January 31, 2013
TERREBONNE, QC, April 11, 2013 /CNW Telbec/ - ADF Group Inc. ("ADF" or the "Corporation")...
About this update from Adf Group Inc.
[{"type":"text","content":"\n\n\n\n\n\nTERREBONNE, QC, April 11, 2013 /CNW Telbec/ - ADF Group Inc. (\"ADF\" or the \"Corporation\") (TSX: DRX) recorded revenues of $41.4\n million for the 2013 fiscal year compared with $48.4 million the\n previous fiscal year, and recorded a negative net income of $1.6\n million compared with a net income of $1.8 million a year earlier.\n\n\nDespite this loss, the Corporation generated operating cash flows of\n over $11 million. Consequently, ADF's short-term available liquidities\n (including cash, cash equivalents and short-term investments) exceeded\n its total debt by $23.5 million as at January 31, 2013, increasing it\n net position by $5.1 million over January 31, 2012.\n\n\nFinancial Highlights \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\nFiscal Years Ended January 31,\n\n\n \n\n\n2013\n\n\n \n\n\n2012\n\n\n(In thousands of dollars, and dollars per share)\n\n\n \n\n\n$\n\n\n \n\n\n$\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\nRevenues\n\n\n \n\n\n41,412\n\n\n \n\n\n48,431\n\n\nEBITDA\n\n\n \n\n\n1,221\n\n\n \n\n\n6,032\n\n\nNet income\n\n\n \n\n\n(1,554)\n\n\n \n\n\n1,812\n\n\n— Basic per share\n\n\n \n\n\n(0.05)\n\n\n \n\n\n0.06\n\n\n— Diluted per share\n\n\n \n\n\n(0.05)\n\n\n \n\n\n0.05\n\n\nAverage number of outstanding shares (basic, in thousands)\n\n\n \n\n\n32,458\n\n\n \n\n\n32,771\n\n\nAverage number of outstanding shares (diluted, in thousands)\n\n\n \n\n\n32,458\n\n\n \n\n\n33,309\n\n\n\n\nAuthorization From the Autorité des Marchés Financiers (AMF)\n\n\nOn March 13, 2013, ADF announced that it was one of the first Quebec\n companies to obtain from the AMF the authorization required under the\n new Bill on the integrity in public contracts. It should be noted that\n this new authorization is mandatory for all corporations that wish to\n work on any public construction or services contract of $40 million or\n greater.\n\n\nNew Order\n\n\nOn March 20, 2013, ADF announced the award of the prestigious contract,\n worth $46.6 million, for the fabrication and installation of the steel\n structure of Quebec City's future multi-purpose amphitheater.\n\n\nOutlook\n\n\nThe Corporation's order backlog stood at $34 million as o...