Business
Inventronics Announces 2006 Q2 Results
Inventronics Announces 2006 Q2 Results.
About this update from Inventronics Limited
[{"type":"text","content":"\n\n\n\n\nSales Revenue Up 20%, Profitability Continues\n\nCALGARY, Aug. 16 /CNW/ - Inventronics Limited (IVX:TSXV), a designer and\nmanufacturer of custom metal enclosures for the communications, electronics\nand other industries in North America, today announced its 2006 second-quarter\nfinancial results.\nInventronics reported sales of $5.087 million for the second quarter of\n2006, compared to second-quarter sales of $4.187 million in 2005. The increase\nin sales reflects a strengthening telecommunications market and growing sales\nto new customers.\nThe net earnings for the quarter ended June 30, 2006 were $102,000, or 2\ncents per share, compared to net earnings of $157,000, or 4 cents per share\nfor the same quarter in 2005. For the 6 months ended June 30, 2006 sales were\n$10,148,000 and net earnings were $501,000, or 11 cents per share versus sales\nof $7,800,000 and a loss of $1,299,000, or a 36-cent per share loss in the\nsame period a year ago. Margin improvements reflect manufacturing efficiencies\nand greater capacity utilization from increasing sales.\n\"Our balance sheet is stronger than it has been in years, sales growth is\ncontinuing as planned and we expect to continue to be profitable,\" said Dan\nStearne, President and CEO. \"Earnings for the quarter were lower than last\nyear because of a further devaluation of the US dollar and consulting costs\nincurred to identify possible strategic partners.\"\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\n9001-registered 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\"IVX.\" For more information about the Corporation, its products and its\nservices, go to www.inventronics.c...