Business
Magellan Aerospace Corporation Announces Financial Results and Announces New President
TORONTO , May 13, 2014 /CNW/ - Magellan Aerospace Corporation ("Magellan" or the "Corpor...
About this update from Magellan Aerospace Corporation
[{"type":"text","content":"\n\n\nTORONTO, May 13, 2014 /CNW/ - Magellan Aerospace Corporation (\"Magellan\"\n or the \"Corporation\") released its financial results for the first\n quarter of 2014.  All amounts are expressed in Canadian dollars unless\n otherwise indicated. The results are summarized as follows:\n\n\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n\n\n\n \n\n \n \n\n \n\n \n \n\nThree month period ended\nMarch 31\n\n\n\n\nExpressed in thousands of Canadian dollars, except per share amounts\n\n \n \n \n \n \n\n2014\n\n \n \n\n2013\n\n \n \n\nChange\n\n\n\n\nRevenues\n\n \n \n \n \n\n \n\n\n210,502\n\n \n \n\n185,293\n\n \n \n\n13.6%\n\n\n\n\nGross Profit\n\n \n \n \n \n\n \n\n\n29,476\n\n \n \n\n24,812\n\n \n \n\n18.8%\n\n\n\n\nNet Income\n\n \n \n \n \n\n \n\n\n12,079\n\n \n \n\n8,015\n\n \n \n\n50.7%\n\n\n\n\nNet Income per Share\n\n \n \n \n \n\n \n\n\n0.21\n\n \n \n\n0.14\n\n \n \n\n50.0%\n\n\n\n\nEBITDA\n\n\n \n\n \n \n \n \n\n27,130\n\n \n \n\n21,271\n\n \n \n\n27.5%\n\n\n\n\nEBITDA per Share\n\n\n \n\n \n \n \n \n\n0.47\n\n \n \n\n0.37\n\n \n \n\n27.0%\n\n\n\n\n\n\n\n\n\n\n\n\nThis news release contains certain forward-looking statements that\n reflect the current views and/or expectations of the Corporation with\n respect to its performance, business and future events.  Such\n statements are subject to a number of risks, uncertainties and\n assumptions, which may cause actual results to be materially different\n from those expressed or implied.  The Corporation assumes no future\n obligation to update these forward-looking statements except as\n required by law.  This news release presents certain non-IFRS financial\n measures to assist readers in understanding the Corporation's\n performance. Non-IFRS financial measures are measures that either\n exclude or include amounts that are not excluded or included in the\n most directly comparable measures calculated and presented in\n accordance with Generally Accepted Acc...