Business
Cymat Reports First Quarter Results for Fiscal 2022
Cymat Reports First Quarter Results for Fiscal 2022 Canada NewsWire ...
About this update from Cymat Technologies Ltd
[{"type":"text","content":"\n \n \n \n Cymat Reports First Quarter Results for Fiscal 2022\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen3{\nBORDER-TOP-COLOR:; VERTICAL-ALIGN: BOTTOM; BORDER-LEFT-COLOR:; BORDER-BOTTOM-COLOR:; PADDING-LEFT:0.50em; BORDER-RIGHT-COLOR:; PADDING-RIGHT:0.50em\n}\n.prngen5{\nBORDER-TOP-COLOR:; VERTICAL-ALIGN: BOTTOM; BORDER-LEFT-COLOR:; BORDER-BOTTOM-COLOR:; TEXT-ALIGN: RIGHT; PADDING-LEFT:0.50em; BORDER-RIGHT-COLOR:; PADDING-RIGHT:0.50em\n}\n.prngen4{\nBORDER-TOP-COLOR:; VERTICAL-ALIGN: BOTTOM; BORDER-LEFT-COLOR:; BORDER-BOTTOM-COLOR:; TEXT-ALIGN: RIGHT; PADDING-LEFT:0.50em; BORDER-RIGHT-COLOR:; PADDING-RIGHT:0.67em\n}\n.prngen2{\nBORDER-TOP-COLOR:; VERTICAL-ALIGN: BOTTOM; BORDER-LEFT-COLOR:; BORDER-BOTTOM-COLOR:; PADDING-LEFT:0.50em; BORDER-RIGHT-COLOR:; PADDING-RIGHT:0.67em\n}\n.prntblns{\nBORDER-TOP: 1pt; BORDER-RIGHT: 1pt; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n \n \n \n \n \n MISSISSAUGA, ON\n \n ,\n \n Oct. 4, 2021\n \n /CNW/ - Cymat Technologies Ltd. (TSXV: CYM) (the \"\n \n Company\n \n \" or \"\n \n Cymat\n \n \") is pleased to report its results of operations for the three months ended\n \n July 31, 2021\n \n .\n \n \n \n \n \n \n \n \n \n Revenue for the quarter was\n \n $946,000\n \n , a 24% increase over last fiscal year's Q1 revenue. Sales of Alusion\n \n TM\n \n , Cymat's architectural line of products, accounted for\n \n $754,000\n \n of the quarterly revenue, representing the majority of Q1 revenue with the Company's automotive and military division, SmartMetal\n \n TM\n \n , accounting for revenue of\n \n $192,000\n \n .\n \n \n The pipeline of significant construction projects remains strong, although the Covid-19 pandemic continues to cause some delayed construction dates for Alusion\n \n TM\n \n installations. Q1 revenue unfortunately fell short of the Company's expectations primarily as the result of mechanical issues experienced in the plant, resulting in the loss of about one third of its production capacity for the quarter. Opearations are now fully f...