CEMATRIX Corporation Reports Second Quarter Financial Results
15 Agosto 2013 - 10:25AM
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 six months ended June 30, 2013.
Second Quarter Highlights
-- The Company recorded second quarter sales of $2,790,218, which when
added to the first quarter's sales of $1,997,842 results in record sales
for the first six months of $4,788,060;
-- The Company reported second quarter earnings of $101,110, which when
reduced by the first quarter's loss of $5,255 results in record profits
for the first six months of $95,855. Both the record sales and profits
are the result of a significant increase in off season infrastructure
work, mainly in south western Ontario.
-- The Company added $1.1 million of sales orders bringing the total
contracted work scheduled in 2013 to $6.4 million.
Financial Results
Selected financial information for the quarters and six months ended June 30,
2013 and 2012 is as follows:
Quarter ended June 30
2013 2012 Change
---------------------------------------
Revenue $ 2,790,218 $ 2,901,844 $ (111,626)
----------- ----------- -----------
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Gross margin 659,399 852,273 (192,874)
Operating expenses (496,857) (498,295) 1,438
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Operating income (loss) 162,542 353,978 (191,436)
Finance costs and other items (21,758) (24,142) 2,384
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Income (loss) before income taxes 140,784 329,836 (189,052)
Provision of deferred taxes (41,244) - (41,244)
----------- ----------- -----------
Income (loss) attributable to common
shareholders 99,940 329,836 (230,296)
Unrealized foreign exchange gain on
translation of foreign subsidiary 1,570 5,608 (4,038)
----------- ----------- -----------
Comprehensive income (loss) $ 101,110 $ 335,444 $ (234,334)
----------- ----------- -----------
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Income (loss) per common share $ 0.003 $ 0.010 $ (0.007)
----------- ----------- -----------
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Six months ended June 30
2013 2012 Change
---------------------------------------
Revenue $ 4,788,060 $ 3,238,835 $ 1,549,225
----------- ----------- -----------
----------- ----------- -----------
Gross margin 1,100,935 637,234 463,701
Operating expenses (922,190) (966,691) 44,501
----------- ----------- -----------
Operating income (loss) 178,745 (329,457) 508,202
Finance costs and other items (46,535) (70,483) 23,948
----------- ----------- -----------
Income (loss) before income taxes 132,210 (399,940) 532,150
Provision of deferred taxes (41,421) - (41,421)
----------- ----------- -----------
Income (loss) attributable to common
shareholders 90,789 (399,940) $ 490,729
Unrealized foreign exchange gain on
translation of foreign subsidiary 5,066 7,645 (2,579)
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Comprehensive income (loss) $ 95,855 $ (392,295) $ 488,150
----------- ----------- -----------
----------- ----------- -----------
Income (loss) per common share $ 0.003 $ (0.012) $ 0.015
----------- ----------- -----------
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The outlook for the remainder of 2013 remains positive, however, this will
depend on the ability of the Company to contract additional 2013 sales
contracts. The Company has put in place $6.4 million of contracted work, that is
currently completed or scheduled for completion in 2013. The Company has also
placed numerous bids on other projects currently scheduled to be completed in
2013, but is unable to ascertain at this time how many of these projects, if
any, will result in 2013 contracted work for the Company.
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 six months ended June 30, 2013, 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.
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 August 14, 2013 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:
Jeff Kendrick
President and Chief Executive Officer
(403) 219-0484
Jeff Walker
The Howard Group - Investor Relations
(888) 221-0915 or (403) 221-0915
jeff@howardgroupinc.com
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