Exco Technologies Limited - Results for Second Quarter Ended March 31, 2013

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[{"type":"text","content":"\n\n\n\n\n\nTORONTO, April 24, 2013 /CNW/ - Exco Technologies Limited (TSX-XTC) today announced results for its second quarter ended March 31, 2013. In\n addition, the Company announced the quarterly dividend of $0.045 per\n common share which will be paid on June 28, 2013 to shareholders of\n record on June 14, 2013.  The dividend is an \"eligible dividend\" in\n accordance with the Income Tax Act of Canada.\n\n\n\n\n \n\n \n \n \n\nThree Months ended\nMarch 31\n\n \n \n\nSix Months ended\nMarch 31\n\n\n\n\n \n\n \n \n \n\n($000s, except per share amounts)\n\n\n\n\n \n\n \n \n \n\n2013\n\n \n \n\n2012\n\n \n \n\n2013\n\n \n \n\n2012\n\n\n\n\nSales\n\n \n \n \n\n59,581\n\n \n \n\n63,150\n\n \n \n\n118,267\n\n \n \n\n121,636\n\n\n\n\nNet income\n\n \n \n \n\n5,545\n\n \n \n\n6,500\n\n \n \n\n11,332\n\n \n \n\n11,786\n\n\n\n\nBasic earnings per share\n\n \n \n \n\n$0.14\n\n \n \n\n$0.16\n\n \n \n\n$0.28\n\n \n \n\n$0.29\n\n\n\n\nDiluted earnings per share\n\n \n \n \n\n$0.14\n\n \n \n\n$0.16\n\n \n \n\n$0.28\n\n \n \n\n$0.29\n\n\n\n\nCommon shares outstanding\n\n \n \n \n\n40,695,195\n\n \n \n\n40,569,811\n\n \n \n\n40,695,195\n\n \n \n\n40,569,811\n\n\n\n\n\n\n\nConsolidated sales for the second quarter ended March 31, 2013 were\n $59.6 million compared to $63.2 million last year.  However, sales\n increased $895 thousand or 2% over the first quarter.  Year-to-date\n consolidated sales were $118.3 million - a decrease of $3.4 million or\n 3% from last year. Sales were impacted in both segments with the\n Automotive Solutions Segment absorbing the impact of poor market\n conditions in Europe as well as a return to normal sales levels at\n Neocon where last year's unusually high post-tsunami surge in Japanese\n OEM demand abated.  In the Casting and Extrusion segment sales were\n impacted by product mix and timing of deliveries in the large mould\n businesses which exceeded stronger sales at Castool and the extrusion\n group where Extrusion Colombia doubled its sales over last year and\n ...

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