Business
Inventronics Announces 2007 Financial Results
IVX Earns 11 cents per share in 2007 CALGARY, March 19 /CNW/ - Inventronics Limited (IVX:TSX Vent...
About this update from Inventronics Limited
[{"type":"text","content":"\n\n\n\nIVX Earns 11 cents per share in 2007\n\n\nCALGARY, March 19 /CNW/ - Inventronics Limited (IVX:TSX Venture), a\ndesigner and manufacturer of custom enclosures for the telecommunications,\nelectric transmission, cable and other industries in North America, today\nannounced its 2007 year-end financial results.\n\n\nFor the year ended December 31, Inventronics recorded a net profit of\n$465,000 or 11 cents per share in 2007 compared to a net profit of $642,000 or\n15 cents per share in 2006. For the three months ended December 31,\nInventronics reported net earnings of $350,000 or 8 cents per share in 2007\ncompared to a net loss of $125,000 or 3 cents per share in 2006.\n\n\nSales were $22,026,000 in 2007 compared to $20,216,000 in 2006 for an\nincrease of 9%. This increase is the product of a growing customer base and\nincreased infrastructure spending in the telecommunications and electronics\nindustries.\n\n\n"Sales were nicely higher in 2007 over 2006 yet net earnings were lower\nas a result of the devaluation of the United States dollar, particularly in\nthe third quarter," said Dan Stearne, Inventronics' President and CEO. "In\nOctober we renegotiated our contract with our largest customer so that prices\nare now denominated in Canadian dollars. This resulted in improved earnings in\nthe fourth quarter and the outlook for 2008."\n\n\nAbout Inventronics\n\n\nInventronics Limited designs and manufactures custom enclosures and other\nproducts for an array of customers in the telecommunications, electronics,\nelectric utilities and computer services industries in North America. The\nCorporation owns its ISO 9001-registered production facility in Brandon,\nManitoba and has head offices in Calgary, Alberta.\n\n\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.com.\n\n\nThe Corporation's full 2007 annual financial results will be filed with\nSEDAR at www.sedar.com by March 25, 2008.\n\n\nDisclaimer\n\n\nThis news release contains forward looking information that represents\nthe Corporation's internal projections, expectations, estimates or beliefs\nconcerning, among other things, future operating results and various\ncomponents thereof or the Corporation's future e...