Inventronics (TSXV:IVX)
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CALGARY, May 27, 2011 /CNW/ --
CALGARY, May 27, 2011 /CNW/ - Inventronics Limited ("Inventronics" or
the "Corporation") (IVX:TSX Venture), a designer and manufacturer of
custom enclosures for the telecommunications, electric transmission,
cable television and other industries in North America, today announced
its unaudited 2011 first quarter financial results.
For the three months ended March 31, 2011, Inventronics reported a net
loss of $109,000, or 2.5 cents per share, on sales of $1,162,000
compared to a net loss of $114,000, or 2.6 cents per share, on sales of
$1,560,000, for the first quarter of 2010.
Selected Financial Information
Income Statement Highlights
(in thousands of dollars,
except per share amounts) Three Months Ended
March 31 March 31
2011 2010
Sales 1,162 1,560
EBITDA 77 81
Net loss (109) (114)
Basis loss per share (2.5)¢ (2.6)¢
Balance Sheet
Highlights
(in thousands
of dollars)
March 31 December 31
As at 2011 2010
Working (2,228) (2,258)
capital 3,974 4,113
Capital assets - -
Long-term 1,746 1,855
debt,
excluding
current
portion
Shareholders'
equity
About Inventronics
Inventronics Limited designs and manufactures custom enclosures and
other products for an array of customers in the telecommunications,
electric utility, cable television, electronics and computer services
industries in North America. The Corporation owns its ISO
9001-registered production facility in Brandon, Manitoba.
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.
Disclaimer
This news release may contain 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 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. Except as otherwise required under applicable
securities laws, the Corporation does not undertake to update any
forward-looking information in this document whether as to new
information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/May2011/27/c8336.html
p bW. Garth Wilson, CFO/b (204) 728-2001 a href="mailto:investor@inventronics.com"investor@inventronics.com/a /p