Business
Inventronics Announces 2008 Q1 Results
Continued Strength of Sales and Earnings CALGARY, May 29 /CNW/ - Inventronics Limited (IVX:TSX Ve...
About this update from Inventronics Limited
[{"type":"text","content":"\n\n\n\nContinued Strength of Sales and Earnings\n\n\nCALGARY, May 29 /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 2008 first quarter financial results.\n\n\nInventronics reported sales of $5.555 million for the first quarter of\n2008, compared to first quarter sales of $5.131 million in 2007. This level of\nsales reflects the strong telecommunications market.\n\n\nThe net earnings for the quarter ended March 31, 2008 were $172,000 or 4\ncents per share, compared to $256,000 or 6 cents per share for the same\nquarter in 2007. The difference is mainly related to human resource costs for\nrecruiting and compensation.\n\n\n"In Q1 and continuing into Q2 are abnormal costs related to sales force\nrecruiting and the addition of a senior financial manager," said Dan Stearne,\nPresident and CEO. "Sales and margins are expected to remain strong for\nbalance of 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\nInventronics' 2008 first-quarter results will be filed with SEDAR at\nwww.sedar.com by May 30, 2008.\n\n\nSelected Financial Information:\n\n Three Months Ended\nIncome Statement Highlights\n March 31, 2008 March 31, 2007\n\nSales $ 5,555 $ 5,131\nEBITDA before restructuring charges $ 397 $ 490\nNet earnings $ 172 $ 256\nBasic earnings per share $ 0.04 $ 0.06\n\n\nBalance Sheet Highlights\n\n March 31, 2008 December 31, 2007\n\nWorking capital $ 928 $ 735\nCapital assets $ 5,645 $ 5,718\nLong-term debt (excluding\n current portion) $ 2,867 $ 2,940\nShareholders' equity $ 3,706 $ 3,513\n\n\nDisclaimer\n\n\nThis news release contains forward looking information that represents\nthe Corporation's internal projection...