Business
Fab-Form Industries Ltd. Announces Results for the Quarter Ended 31 December 2024
Delta, British Columbia--(Newsfile Corp. - March 3, 2025) - Fab-Form Industries Ltd. (TSXV: FBF) ...
About this update from Fab-form Industries Ltd
[{"type":"text","content":"Fab-Form Industries Ltd. Announces Results for the Quarter Ended 31 December 2024Delta, British Columbia--(Newsfile Corp. - March 3, 2025) - Fab-Form Industries Ltd. (TSXV: FBF) (\"Fab-Form\" or the \"Company\") today released its financial results for the quarter ended 31 December 2024.Financial HighlightsRevenue for the quarter increased slightly to $1,030,927 compared to $1,020,614 in the same period last year, reflecting a modest 1.0% growth despite ongoing market challenges.Gross profit remained stable at $344,734, with a gross margin of 33%, slightly down from 34% in the prior year.Operating expenses increased significantly by 24.1%, driven by higher general and administrative expenses (+24.3%) and marketing costs (+23.5%) as the Company continues to invest in its expansion strategy.Earnings from operations declined by 28.5% to $82,220, compared to $139,862 in the same period last year.Other income surged by 53.1% to $76,428 due to strong returns from short-term investments.Net earnings for the period stood at $117,393, up 9.3% from the previous year's $107,372.\"Despite continued economic challenges, we have maintained revenue stability while making strategic investments in our expansion,\" said Joey Fearn, CEO. \"The significant increase in our other income highlights our prudent financial management and ability to generate strong returns on our investments. We remain committed to positioning Fab-Form for long-term growth.\"Financial PositionAs of December 31, 2024, the Company had cash and cash equivalents of $1.73 million and short-term investments of $2.54 million, ensuring strong liquidity.Total assets grew to $6.49 million, up from $5.67 million in the previous year.The Company has no long-term debt, ensuring financial stability and flexibility.Product and Market UpdateFab-Form continues to focus on its core product lines while advancing innovative solutions in concrete forming technology. The Company is particularly encouraged by the continued strong performance of Fast-Tube®, which has shown significant growth.The Company has also achieved significant milestones:World of Concrete 2025 Participation - Fab-Form showcased four innovative products at the World of Concrete trade show in Las Vegas from January 21-23, 2025, at Booth N568.FAST-TUBE™ - An efficient column form that is cost-effective, waterproof...