BURNABY,
BC, Nov. 23, 2015 /CNW/ - IWG
Technologies Inc. (TSX-V: IWG) ("the Company" or "IWG") today
announced results for the fiscal year ended September 30, 2015, which include a 71% increase
in net income and 29% growth in revenue. All amounts are expressed
in Canadian dollars unless otherwise indicated.
With the latest results, the Company is pleased
to report that IWG has achieved a Five-Year Compound Annual Growth
of 17% for revenue and 41% for net income.
The annual amounts include fourth quarter
revenues of $2,731,577, a 26%
increase from the prior year fourth quarter, and net earnings of
$400,405, a 41% increase from the
prior year fourth quarter.
This year's results provided net earnings of
3.3 cents per share (3.3 cents fully diluted) compared to 2.0 cents in the prior year (1.9 cents fully diluted). Detailed
financial statements and MD&A will be available on
www.sedar.com and the company website at www.iwgtech.com.
The results are summarized as follows:
|
|
|
|
|
|
|
Three month period
ended
|
|
Year
ended
|
|
September
30
|
|
September
30
|
Expressed in
thousands of dollars
|
2015
|
2014
|
Change
|
2015
|
2014
|
Change
|
|
(except per share
amounts)
|
|
|
|
|
|
|
Revenue
|
$
|
2,731
|
$
|
2,170
|
26%
|
$
|
9,514
|
$
|
7,397
|
29%
|
|
|
|
|
|
|
|
Gross
profit
|
1,341
|
901
|
49%
|
4,543
|
3,621
|
25%
|
|
|
|
|
|
|
|
Operating
income
|
487
|
423
|
15%
|
1,754
|
1,188
|
48%
|
|
|
|
|
|
|
|
Net
income
|
400
|
283
|
41%
|
1,282
|
751
|
71%
|
|
|
|
|
|
|
|
Net income per
share
|
1.0¢
|
0.8¢
|
|
3.3¢
|
2.0¢
|
|
|
|
|
|
|
|
|
|
|
|
|
EBITDA
|
$
|
671
|
$
|
512
|
|
$
|
2,326
|
$
|
1,362
|
|
|
|
|
|
|
|
|
EBITDA per
share
|
1.7¢
|
1.3¢
|
|
5.9¢
|
3.6¢
|
|
"The Company continues to outperform the growth
in revenue and net income expectations as defined in the Company's
Strategic Plan. Fiscal 2015 saw a sales volume growth of 13%
and when coupled with the advantages of a strong US dollar resulted
in the total revenue growth reported" says Bruce Gowan, IWG Chairman.
Darryl Jacobs,
President of International Water-Guard Industries adds "2015 has
been the strongest year yet for IWG, with increased sales volume
and the introduction of new products that strengthen our product
offerings to support the ever-evolving needs of the aviation
industry"
IWG Technologies Inc. is the public holding
company for International Water-Guard Industries Inc., a Canadian
aerospace company focused on aircraft potable water treatment,
water systems, water heaters and components. IWG has expertise in
all aspects of water treatment, has the products and know-how to
provide high quality water for passengers and crew, and
lightweight, space-saving solutions for the aircraft operator.
On behalf of the Board of Directors
Bruce Gowan
Chairman of the Board
This news release contains certain
forward-looking statements that reflect the current views and/ or
expectations of IWG with respect to its performance, business and
future events including statements with respect to completion of
proposed or future transactions. Such statements are subject to a
number of risks, uncertainties and assumptions, which may cause
actual results to be materially different from those expressed or
implied. IWG assumes no future obligation to update these
forward looking statements except as required by applicable
securities laws.
NEITHER THE 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.
TSX VENTURE: IWG
SOURCE IWG Technologies Inc.