Business
Inventronics Announces 2006 Q1 Results
Inventronics Announces 2006 Q1 Results.
About this update from Inventronics Limited
[{"type":"text","content":"\n\n\n\n\nStrong Profits Led by Increasing Canadian Sales\n\nCALGARY, April 26 /CNW/ - Inventronics Limited (IVT:TSXV), a designer and\nmanufacturer of custom metal enclosures for the communications, electronics\nand other industries in North America, today announced its 2006 first-quarter\nfinancial results.\nInventronics reported sales of $5.061 million for the first quarter of\n2006, compared to first-quarter sales of $3.618 million in 2005. The increase\nin sales reflects a strengthening telecommunications market, growing sales to\nnew customers and unusually large orders from one Canadian customer in the\nquarter.\nThe net earnings for the quarter ended March 31, 2006 were $398,000 or\n1.8 cents per share, compared to a net loss of $1.456 million or 13 cents per\nshare for the same quarter in 2005. Margin improvements reflect manufacturing\nefficiencies and greater capacity utilization from increasing sales.\n\"The profits earned in this quarter reflect the result of work done in Q4\nof 2005 to enhance our capacity, and the effect of more sales denominated in\nCanadian dollars,\" said Dan Stearne, President and CEO. \"In this quarter, 50%\nof sales were denominated in Canadian dollars, compared to 33% for all of last\nyear. While this trend to a higher percentage of Canadian sales is consistent\nwith our strategy, one large project has had a greater impact in this quarter\nthan is anticipated in subsequent quarters.\"\n\nAbout Inventronics\n\nInventronics Limited designs and manufactures custom enclosures and other\nproducts for an array of customers in the telecommunications, electronics,\ntraffic controls, electric utilities and computer services industries in North\nAmerica. Inventronics' enclosures are sophisticated products that function as\npermanent packaging to address a variety of customer concerns including\nsecurity, protection from the outside environment, ventilation and thermal\nmanagement, noise abatement, aesthetics and styling, electromagnetic\ncompatibility and component integration. The Corporation owns its ISO 9001-\nregistered production facility in Brandon, Manitoba, and has sales and\ncorporate offices in Calgary, Alberta.\nShares of Inventronics trade on the TSX Venture Exchange under the symbol\n\"IVT.\" For more information about the Corporation, its products and its\nservices, go to www.inventroni...