CEMATRIX Corporation Reports Third Quarter Financial Results
15 Novembro 2012 - 8:37PM
Marketwired Canada
CEMATRIX Corporation (TSX VENTURE:CVX) (the "Corporation" or the "Company" or
"CEMATRIX") is pleased to announce the release of its consolidated financial
results for the quarter and nine months ended September 30, 2012.
Third Quarter Highlights
-- The Company added $3.0 million of sales orders bringing the total in the
year to $11.7 million. The Company now has $8.7 million of contracted
sales for work scheduled in 2012 and another $3.0 million for work
scheduled for 2013.
-- The Company reported third quarter sales of $2.4 million compared to
$3.4 million for the same period in 2011; the decline in sales from the
same period in the previous year was due to a shift in 2012 sales into
the fourth quarter.
-- The Company reported third quarter earnings of $222,127, compared with
$739,188 in the same period in 2011; the decline is due to the timing of
sales year over year as discussed above.
Financial Results
Selected financial information for the quarters and nine months ended September
30, 2012 and 2011 is as follows:
Quarter ended September 30
2012 2011 Change
-------------------------------------------
Revenue $ 2,367,047 $ 3,424,336 $ (1,057,289)
------------- ------------- -------------
Gross margin 688,893 1,264,155 (575,262)
Operating expenses (426,639) (486,687) 60,048
------------- ------------- -------------
Operating income (loss) 262,254 777,468 (515,214)
Finance costs and other items (40,127) (38,280) (1,847)
------------- ------------- -------------
Comprehensive income (loss) $ 222,127 $ 739,188 $ (517,061)
------------- ------------- -------------
Income (loss)per common share $ 0.007 $ 0.022 $ (0.015)
------------- ------------- -------------
Nine months ended September 30
2012 2011 Change
---------------------------------------------
Revenue $ 5,605,882 $ 6,080,442 $ (474,560)
------------- ------------- -------------
Gross margin 1,326,127 1,821,947 (495,820)
Operating expenses (1,393,330) (1,200,858) (192,472)
------------- ------------- -------------
Operating income (loss) (67,203) 621,089 (688,292)
Finance costs and other items (102,965) (151,066) 48,101
------------- ------------- -------------
Comprehensive income (loss) $ (170,168) $ 470,023 $ (640,191)
------------- ------------- -------------
Income (loss)per common share $ (0.005) $ 0.014 $ (0.019)
------------- ------------- -------------
The outlook for 2012 remains positive. The Company has $8.7 million of sales
contracted for projects that are currently scheduled for completion in 2012.
This press release should be read in conjunction with the Corporation's
unaudited Consolidated Financial Statements and Management Discussion and
Analysis for the quarter and nine months ended September 30, 2012, both of which
can be found on SEDAR.
CEMATRIX is an Alberta corporation with its head offices in Calgary, Alberta.
The Corporation, through its wholly owned subsidiary, is a manufacturer and
supplier of technologically advanced cellular concrete products with
applications in a variety of markets, including oil and gas construction and
infrastructure construction. Cellular concrete provides a cost and labour saving
solution as a replacement for rigid and other insulating materials in
frost-susceptible or permafrost conditions. Cellular concrete is also used in
void filling situations and as a replacement for granular fills and weak or
unstable soils.
Forward-looking information: This news release contains certain information that
is forward looking and is subject to important risks and uncertainties (such
statements are usually accompanied by words such as "anticipate", expect",
"would' or other similar words). Forward looking statements in this document are
intended to provide CEMATRIX security holders and potential investors with
information regarding CEMATRIX and its subsidiaries' future financial and
operations plans and outlook. All forward looking statements reflect CEMATRIX's
beliefs and assumptions based on information available at the time the
statements were made. Readers are cautioned not to place undue reliance on this
forward looking information. CEMATRIX undertakes no obligation to update or
revise forward looking information except as required by law. For additional
information on the assumptions made and the risks and uncertainties which may
cause actual results to differ from the anticipated results, refer the
CEMATRIX's Management Discussion and Analysis dated November 14, 2012 under
CEMATRIX's profile on SEDAR at www.sedar.com and other reports filed by CEMATRIX
with Canadian securities regulators.
FOR FURTHER INFORMATION PLEASE CONTACT:
The Howard Group
Jeff Walker
Investor Relations
(888) 221-0915 or (403) 221-0915
jeff@howardgroupinc.com
CEMATRIX Corporation
Jeff Kendrick
President and Chief Executive Officer
(403) 219-0484
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