Inventronics Announces 2005 Q3 Results

 

 

Sales and Profit Growth Continues

 

 

Calgary, Alberta – (NOVEMBER 3, 2005) – Inventronics Limited (IVT:TSXV), a designer and manufacturer of custom metal enclosures for the communications, electronics and other industries in North America, today announced its 2005 third-quarter financial results.

Sales were $4,396,000 in the third quarter of 2005, an increase of 19% over the third quarter sales of $3,695,000 in 2004. The increase in sales is reflective of growing sales outside the communications market, as well as growing activity in the telecom sector.

Net earnings for the quarter were $137,000 (1¢ per share) compared to the net loss of $267,000 (4¢ per share) in the same period last year, and EBITDA rose from $188,000 in the third quarter last year to $406,000 this year.

“Sales and profits are continuing to grow,” said Dan Stearne, Inventronics’ President and CEO. “We are clearly seeing the communications sector recover after three difficult years. Our existing customers are announcing and executing larger capital budgets. Additionally, our sales and marketing program, particularly in Alberta, is producing new business in diverse markets.”

 

About Inventronics

 

Inventronics Limited designs and manufactures custom enclosures and other products for an array of customers in the telecommunications, electronics, traffic controls, electric utilities and computer services industries in North America. Inventronics’ enclosures are sophisticated products that function as permanent packaging to address a variety of customer concerns including security, protection from the outside environment, ventilation and thermal management, noise abatement, aesthetics and styling, electromagnetic compatibility and component integration. The Corporation owns its ISO 9001-registered production facility in Brandon, Manitoba, and has sales and corporate offices in Calgary, Alberta.

 

Shares of Inventronics trade on the TSX Venture Exchange under the symbol “IVT.” For more information about the Corporation, its products and its services, go to www.inventronics.com.

 

Inventronics’ 2005 third-quarter results will be filed with SEDAR at www.sedar.com by November 29, 2005.

 

 

Selected Financial Information:

 

Income Statement Highlights

Three Months Ended

Nine Months Ended

Sept 30, 2005

Sept 30, 2004

Sept 30, 2005

Sept 30, 2004

 

 

 

 

 

Sales

$ 4,396

$ 3,695 

$   12,201

$ 10,396 
EBITDA

$    406

 $    188 

$      1,084  

 $    558 
Restructuring Costs

-

-

$  (1,383)

-

Net earnings (loss)

$   137

   $   (267)

$  (1,162)

   $  (734)

Earning (Loss) per share – Basic

1¢

         (4)¢

(6)¢

       (11)¢

 

 

 

Balance Sheet Highlights

Sept 30, 2005

December 31, 2004

 

 

 

Working capital

$   (223) 

  $     (673)

Capital assets

$  6,264 

$   6,586 

Long-term debt (excluding current portion)

$  3,500 

$   4,669 

Shareholders’ equity

$  2,492 

$   1,404 

 

 

 

11,404

 

FOR FURTHER INFORMATION PLEASE CONTACT:

 

Dan J. Stearne, President and CEO     (403) 265-4880, dstearne@inventronics.com