Exco Technologies Limited - Fourth Quarter ended September 30, 2008

About this update from Exco Technologies Limited

Quarterly Dividend Declared TORONTO, Nov. 26 /CNW/ - Exco Technologies Limited (TSX-XTC) today announced results for its fourth quarter ended September 30, 2008. In addition, the Company announced that a quarterly cash dividend of $0.0175 per share will be paid December 30, 2008 to shareholders of record on December 15, 2008. The dividend is an "eligible dividend" in accordance with the Income Tax Act of Canada. ------------------------------------------------------------------------- 12 Months Ended 3 Months ended September 30 September 30 ($000s, except per share amounts) 2008 2007 2008 2007 ---- ---- ---- ---- Sales $201,681 $201,759 $50,132 $50,485 Net income (loss) from continuing operations(x) ($13,398) $5,794 ($20,753) ($752) Net loss from discontinued operations ($536) ($2,732) ($425) ($1,321) Net income (loss) ($13,934) $3,062 ($21,178) ($2,073) Basic and diluted earnings (loss) per share from continuing operations ($0.33) $0.14 ($0.51) ($0.02) Basic and diluted (loss) per share from discontinued operations ($0.01) ($0.07) ($0.01) ($0.03) Basic and diluted earnings (loss) per share ($0.34) $0.07 ($0.52) ($0.05) Common shares outstanding 40,948,276 41,478,476 40,948,276 41,478,476 (x) includes non-cash goodwill charge of $23.6 million for Neocon Canada and Polytech. ------------------------------------------------------------------------- The financial results for the 2008 and 2007 reflect the classification of Exco's Techmire business as a discontinued operation. In the fourth quarter sales of $50.1 million were flat compared to last year's sales of $50.5 million. The value of the U.S. dollar having strengthened by an average of one cent against the Canadian dollar in the quarter had a negligible impact on sales. The Automotive Solutions segment experienced a strong quarter with an increase in sales of $3.5 million or 17.7% to $23.3 million from $19.8 million last year. Increased European sales by Polydesign more than offset the reduction in North American sales by Polytech and the Neocon businesses. The Casting and Extrusion segment recorded reduced quarterly sales of 12.6% or $3.9 million to $26.9 million from $30.7 million last year. Lower sales at Castool and the large mould businesses (Extec had no sales for the quarter) were responsible for this reduction and overwhelmed the slight increase in sales in the extrusion die businesses...

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