Business
Inventronics Announces 2007 Q1 Results
Inventronics Announces 2007 Q1 Results.
About this update from Inventronics Limited
[{"type":"text","content":"\n\n\n\nContinued Strength of Sales and Earnings\n\n\nCALGARY, May 24 /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 2007 first-quarter\nfinancial results.\n\n\nInventronics reported sales of $5.131 million for the first quarter of\n2007, compared to first-quarter sales of $5.061 million in 2006. This level of\nsales reflects a strong telecommunications market and growing sales to new\ncustomers compared to the same quarter in the previous year when unusually\nlarge orders were sold to one Canadian customer.\n\n\nThe net earnings for the quarter ended March 31, 2007 were $256,000 or 6\ncents per share, compared to $398,000 or 9 cents per share for the same\nquarter in 2006. The difference is the result of a larger proportion of sales\nto United States customers in 2007 which attract a lower level of profit.\n\n\n"The profits earned in this quarter reflect a normal mix between Canadian\nand United States denominated sales unlike the same quarter last year when one\nlarge project resulted in very high Canadian sales," said Dan Stearne,\nPresident and CEO. "This level of sales and profitability is expected for the\nbalance of 2007."\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,\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.\n\n\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.inventronics.com.\n\n\nInventronics' 2007 first-quarter results will be filed with SEDAR at\nwww.sedar.com by May 23, 2007.\n\n\...