Sales and Profit Growth Continues
CALGARY, Nov. 3 /CNW/ - Inventronics Limited (IVT:TSXV), a designer and
manufacturer of custom metal enclosures for the communications, electronics
and other industries in North America, today announced its 2005 third-quarter
financial results.
Sales were $4,396,000 in the third quarter of 2005, an increase of 19%
over the third quarter sales of $3,695,000 in 2004. The increase in sales is
reflective of growing sales outside the communications market, as well as
growing activity in the telecom sector.
Net earnings for the quarter were $137,000 (1 cents per share) compared
to the net loss of $267,000 (4 cents per share) in the same period last year,
and EBITDA rose from $188,000 in the third quarter last year to $406,000 this
year.
"Sales and profits are continuing to grow," said Dan Stearne,
Inventronics' President and CEO. "We are clearly seeing the communications
sector recover after three difficult years. Our existing customers are
announcing and executing larger capital budgets. Additionally, our sales and
marketing program, particularly in Alberta, is producing new business in
diverse markets."
About Inventronics
Inventronics Limited designs and manufactures custom enclosures and other
products for an array of customers in the telecommunications, electronics,
traffic controls, electric utilities and computer services industries in North
America. Inventronics' enclosures are sophisticated products that function as
permanent packaging to address a variety of customer concerns including
security, protection from the outside environment, ventilation and thermal
management, noise abatement, aesthetics and styling, electromagnetic
compatibility and component integration. The Corporation owns its
ISO 9001-registered production facility in Brandon, Manitoba, and has sales
and corporate offices in Calgary, Alberta.
Shares of Inventronics trade on the TSX Venture Exchange under the symbol
"IVT." For more information about the Corporation, its products and its
services, go to www.inventronics.com.
Inventronics' 2005 third-quarter results will be filed with SEDAR at
www.sedar.com by November 29, 2005.
<<
Selected Financial Information:
Three Months Ended Nine Months Ended
Income Statement Highlights Sept 30, Sept 30, Sept 30, Sept 30,
2005 2004 2005 2004
Sales $ 4,396 $ 3,695 $ 12,201 $ 10,396
EBITDA $ 406 $ 188 $ 1,084 $ 558
Restructuring Costs - - $ (1,383) -
Net earnings (loss) $ 137 $ (267) $ (1,162) $ (734)
Earning (Loss) per share
- Basic 1 cents (4) cents (6) cents (11) cents
Balance Sheet Highlights Sept 30, 2005 December 31, 2004
Working capital $ (223) $ (673)
Capital assets $ 6,264 $ 6,586
Long-term debt (excluding
current portion) $ 3,500 $ 4,669
Shareholders' equity $ 2,492 $ 1,404
>>
