Inventronics Announces 2008 Q3 Results

CALGARY, Nov. 24 /CNW/ - Inventronics Limited (IVX:TSX Venture), a designer and manufacturer of custom enclosures for the telecommunications, electric transmission, cable and other industries in North America, today announced its 2008 third quarter financial results.

Inventronics reported sales of $4,133,000 for the third quarter of 2008, compared to third quarter sales of $5,155,000 in 2007.

The net loss for the quarter ended September 30, 2008 was $235,000 or 5 cents per share, compared to a loss of $327,000 or 7 cents per share for the same quarter in 2007.

Included in the net loss was $143,000 of severance costs incurred in the reorganization of operations done in response to the loss of future revenue. The revenue decrease is the result of the Corporation's largest customer not extending a supply agreement which expired on October 15, 2008. The Corporation has reached an agreement with this US based multinational customer's Canadian subsidiary to continue to supply that customer in Canada. The Corporation will continue to do a small amount of business with that customer's operations in the United States. This lost business represents more than one half of the Corporation's sales in the last year.

About Inventronics

Inventronics Limited designs and manufactures custom enclosures and other products for an array of customers in the telecommunications, electronics, electric utilities and computer services industries in North America. The Corporation owns its ISO 9001-registered production facility in Brandon, Manitoba and has head offices in Calgary, Alberta.

Shares of Inventronics trade on the TSX Venture Exchange under the symbol "IVX." For more information about the Corporation, its products and its services, go to www.inventronics.com.

Inventronics' 2008 third quarter results will be filed with SEDAR at www.sedar.com by November 25, 2008.

Selected Financial Information:
(in thousands, except per share amounts)

Income Statement Highlights     Three Months Ended     Nine Months Ended
                               Sept 30,    Sept 30,   Sept 30,   Sept 30,
                                  2008        2007       2008       2007

Sales                            4,133       5,155     15,156     15,890
EBITDA                             141        (102)       977        809
Net earnings (loss)               (235)       (327)       142        115
Basic earnings (loss)
 per share                 (5.0) cents (7.0) cents  3.0 cents  3.0 cents


Balance Sheet Highlights        September 30, 2008     December 31, 2007

Working capital                                782                   735
Capital assets                               5,424                 5,718
Long-term debt (excluding
 current portion)                            2,514                 2,940
Shareholders' equity                         3,692                 3,513

Disclaimer

This news release contains forward looking information that represents the Corporation's internal projections, expectations, estimates or beliefs concerning, among other things, future operating results and various components thereof or the Corporation's future economic performance. These statements relate to future events or future performance. All statements other than the statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expects", "projects", "plans", "anticipates", and similar expressions. The projections, estimates and beliefs contained in such forward-looking statements are based on management's assumptions relating to the production performance of Inventronics' assets, the cost and competition throughout the telecommunications industry in 2008, and the continuation of the current regulatory and tax regimes in the jurisdictions in which the Corporation operates, and necessarily involve known and unknown risks and uncertainties, including risks and assumptions relating to exchange rates, costs of production, outlook for sales, and other factors that may cause actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted. The Corporation does not undertake to update any forward-looking information in this document whether as to new information, future events or otherwise.