Inventronics Announces 2019 Year End Financial Results

Inventronics Limited (“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 2019 audited annual and unaudited 2019 Q4 financial results.

For the year ended December 31, 2019, the Corporation reported net income of $195,000, or 4.4 cents per share, on revenue of $5,656,000 compared to a net income of $16,000, or 0.4 cents per share, on revenue of $4,616,000 for the 2018 fiscal year. For the three months ended December 31, 2019, the Corporation reported a net loss of $151,000, or 3.5 cents per share, on revenue of $947,000 compared to a net income of $189,000, or 4.3 cents per share, on revenue of $1,708,000, for the same period in 2018.

Selected Financial Information
Income Highlights	Three months ended			Twelve months ended
(in thousands of dollars, except per share amounts)	Dec 312019		Dec 312018	Dec 312019	Dec 312018
Revenue	947		1,708	5,656	4,616
EBITDA	(87	)	249	452	257
Net income (loss)	(151	)	189	195	16
Basic income (loss) per share	(3.5	)¢	4.3¢	4.4¢	0.4¢

Statement of Financial Position Highlights
(in thousands of dollars)As at	Dec 312019	Dec 312018
Working capital	620	492
Property, plant and equipment	2,145	2,177
Long-term debt, excluding current portion	2,144	2,242
Shareholders’ equity	621	426

Further information about the financial results of the Corporation can be found in the Corporation's audited financial statements for the year ended December 31, 2019 and accompanying management's discussion and analysis, which have been filed on SEDAR at www.sedar.com.

About Inventronics

Inventronics Limited designs and manufactures custom enclosures and other products for an array of customers in the telecommunications, electric utility, cable television, oil and gas, 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. Non-IFRS Measures

Earnings before interest, tax, depreciation and amortization (“EBITDA”), as presented in this news release, is not a recognized measure under International Financial Reporting Standards (“IFRS”).  However, management believes that EBITDA is a useful supplementary measure to net earnings, as it provides investors with an indication of cash earnings prior to debt service, capital expenditure, income tax and non-cash items. Readers should be cautioned, however, that EBITDA should not be construed as an alternative to net income determined in accordance with IFRS as an indicator of the Corporation’s performance or to cash flows from operating, investing and financing activities as a measure of liquidity or cash flows. The Corporation’s method of calculating EBITDA may differ from the methods by which other companies calculate EBITDA and, accordingly, the EBITDA used herein may not be comparable to measures used by other companies. For further information relating to how the Corporation calculates EBITDA, including a reconciliation of EBITDA to net income, please refer to the MD&A posted on SEDAR.

FOR FURTHER INFORMATION PLEASE CONTACT:

Dan J. Stearne, President and CEO		[phone]		[e-mail]

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.