Exco Technologies Limited - Results for Fourth Quarter Ended September 30, 2013

About this update from Exco Technologies Limited

[{"type":"text","content":"\n\n\nTORONTO, Nov. 26, 2013 /CNW/ - Exco Technologies Limited (TSX-XTC) today announced results for its fourth quarter ended September 30,\n 2013. In addition, the Company announced the quarterly dividend of\n $0.045 per common share which will be paid on December 27, 2013 to\n shareholders of record on December 13, 2013.   The dividend is an\n \"eligible dividend\" in accordance with the Income Tax Act of Canada.\n\n\n \n\n\nThree Months ended\nSeptember 30\n\n\nTwelve Months ended\nSeptember 30\n\n\n \n\n\n($000s, except per share amounts)\n\n\n \n\n\n2013\n\n\n2012\n\n\n2013\n\n\n2012\n\n\nSales\n\n\n63,961\n\n\n61,667\n\n\n244,610\n\n\n242,516\n\n\nNet income before withholding tax on repatriation of\nsurplus from subsidiary\n\n\n6,750\n\n\n7,147\n\n\n25,162\n\n\n24,449\n\n\nBasic earnings before withholding tax per share\n\n\n$0.17\n\n\n$0.18\n\n\n$0.62\n\n\n$0.60\n\n\nDiluted earnings before withholding tax per share\n\n\n$0.16\n\n\n$0.17\n\n\n$0.61\n\n\n$0.60\n\n\nNet income\n\n\n6,750\n\n\n7,147\n\n\n23,632\n\n\n24,449\n\n\nBasic earnings per share\n\n\n$0.17\n\n\n$0.18\n\n\n$0.58\n\n\n$0.60\n\n\nDiluted earnings per share\n\n\n$0.16\n\n\n$0.17\n\n\n$0.58\n\n\n$0.60\n\n\nCommon shares outstanding\n\n\n        40,714,833\n\n\n40,623,011\n\n\n40,714,833\n\n\n40,623,011\n\n\n\n\n\nConsolidated sales for the fourth quarter ended September 30, 2013 were\n $64.0 million - an increase of $2.3 million or 4% compared to the same\n quarter last year and an increase of $1.6 million or 3% over the third\n quarter. Annual consolidated sales were $244.6 million - an increase of\n $2.1 million or 1% compared to last year.\n\n\nThe Company's fourth quarter consolidated net income was $6.8 million\n (basic $0.17 per share; diluted $0.16 per share) compared to $7.1\n million (basic $0.18 per share; diluted $0.17 per share) in the same\n quarter last year.  The large mould business experienced\n non-recoverable costs associated with new die builds and inefficiencies\n with regard to the production of silafont moulds and other new mould\n programs. In addition, travel, general and administrative costs\n associated with the greenfields in Brazil and Thailand and the\n integration of Extrusion Texas also eroded fourth quarter earnings. \n Mr. Robbins, CEO of the Company sa...

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