Fourth Quarter ended September 30, 2007 and Quarterly Dividend Declared

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[{"type":"text","content":"\n\n\n\nTORONTO, Nov. 22 /CNW/ - Exco Technologies Limited (TSX-XTC) today\nannounced results for its fourth quarter ended September 30, 2007. In\naddition, the Company announced that a quarterly cash dividend of $0.015 per\nshare will be paid December 28, 2007 to shareholders of record on December 14,\n2007. The dividend is an "eligible dividend" in accordance with the Income Tax\nAct of Canada. During the quarter Exco sold its Techmire division in an all\ncash transaction. Accordingly, the financial results for 2007 and 2006 have\nbeen restated to reflect Techmire as a discontinued operation.\n\n\n-------------------------------------------------------------------------\n 12 Months Ended 3 Months ended\n September 30 September 30\n 2007 2006 2007 2006\n ----------- ----------- ----------- -----------\nSales $201,759 $199,271 $50,485 $51,411\nNet income (loss) from\n continuing operations $5,794 $3,311 ($752) $4,035\nNet loss from\n discontinued operations ($2,732) ($3,927) ($1,321) ($894)\nNet income (loss) $3,062 ($616) ($2,073) $3,141\nDiluted earnings (loss)\n per share from\n continuing operations $0.14 $0.08 ($0.02) $0.10\nDiluted loss per share\n from discontinued\n operations ($0.07) ($0.09) ($0.03) ($0.02)\nDiluted earnings (loss)\n per share $0.07 ($0.01) ($0.05) $0.08\nCommon shares\n outstanding 41,478,476 41,563,176 41,478,476 41,563,176\n-------------------------------------------------------------------------\n\n\nIn the fourth quarter sales of $50.5 million were down over last year by\nalmost 2%. The Canadian dollar achieved parity with the US dollar in the\nquarter, strengthening on average by 8 cents over last year. Annual sales of\n$201.8 million were up by slightly more than one percent over the prior year.\nThis increase includes the impact of a 3 cent strengthening of the Canadian\ndollar during the year, which lowered sales this year by $3.6 million or 1.8%.\nAbout 66% of sales were denominated in US dollars.\n\n\nWhile the strong Canadian dollar has unquestionably hindered our top line\nperformance, weakness in the sale of large moulds during the fourth quarter\nwas a more important factor. Large mould sales were down $4.9 million compared\nto last year. This offset an increase of almost $2 million in sales at the\nother operations in the Casting and Extrusion segment and also offset the\nincre...

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