Business
Results for the Second Quarter July 31, 2010 - ADF Group maintained strong profit margins
Results for the Second Quarter July 31, 2010 - ADF Group maintained strong profit margins
About this update from Adf Group Inc.
[{"type":"text","content":"\n\n\n\n Sep. 9, 2010 (Canada NewsWire Group) -- \n\nTR.cnwUnderlinedCell TD {\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell {\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell {\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell {\n BORDER-BOTTOM: #000000 3px solid\n}\n\n\n >\n\n\nTERREBONNE, QC, Sept. 9 /CNW Telbec/ - ADF GROUP INC. ("ADF" or the "Corporation") (ticker symbol: DRX/TSX) closed the second quarter of the 2011 fiscal year with revenues of $13 million compared with $18.7 million in the corresponding quarter of 2009. For the first six months, revenues totalled $26.6 million, compared with $35.5 million for the first half of the previous year.\nThe second-quarter gross margin stood at $3.9 million or 30% of revenues, compared with $4.6 million or 24% of revenues for the second quarter ended July 31, 2009. For the first six months, it stood at $8.4 million or 32% of revenues, compared with $10 million or 28% of revenues for the first half of the previous year. For the second quarter of the fiscal year, the EBITDA (earnings before interest, taxes, depreciation and amortization) margin remained high at 19% of revenues, similar to the corresponding quarter of the previous year. It stood at 21% for the first half ended July 31, 2010, compared with 22% for the corresponding period of the previous year.\nADF posted second-quarter net earnings of $0.9 million or $0.03 per share (basic and diluted), compared with $1.8 million or $0.05 per share (basic and diluted) for the second quarter of the previous year. For the first six months, net earnings amounted to $2.1 million or $0.06 per share (basic and diluted), down from $4.1 million or $0.11 per share (basic and diluted) for the first half of the previous year. Besides the decline in business volume, these lower results are attributable to the negative impact of the increase in the Canadian dollar, as well as the increase in certain costs including amortization and financial charges.\nADF Group closed the period in an excellent financial position, as notably attested to by its 4.15:1 current ratio, long-term debt to equity ratio of just 0.11:1 and its $5.5 million liquiditie...