Business
Inventronics Announces 2006 Q3 Results
Inventronics Announces 2006 Q3 Results.
About this update from Inventronics Limited
[{"type":"text","content":"\n\n\n\n\nGrowth in Sales, Growth in Profit\n\nCALGARY, Nov. 17 /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 third-quarter\nfinancial results.\n\nResults for Third Quarter and Nine Months Ended September 30, 2006\n\nInventronics reported sales of $5,563,000 for the third quarter of 2006,\ncompared to third-quarter sales of $4,396,000 in 2005. The net earnings for\nthe quarter ended September 30, 2006 were $269,000, or 6 cents per share,\ncompared to net earnings of $138,000, or 5 cents per share for the same\nquarter in 2005. For the 9 months ended September 30, 2006 sales were\n$15,711,000 and net earnings were $769,000, or 17.5 cents per share versus\nsales of $12,201,000 and a loss of $1,162,000, or 6 cents per share loss in\nthe same period a year ago.\nRevenue for the third quarter and for the nine months have continued to\nexceed the same periods in the prior year. Capital spending in the North\nAmerican communication industry is the largest contributor to this revenue\ngrowth, as the major telecommunication companies adapt and build out their\nnetworks to support internet (DSL and VDSL), voice over internet protocol\n(VOIP) and television services. This results in revenues to Inventronics since\nthe company designs and supplies many of the outdoor enclosures used to house\nequipment and connections required to implement these new technologies and to\nbring fibre optic networks closer to the telco's customers. Sales to new\ncustomers is also contributing to revenue growth particularly in Alberta.\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 ha...