Ultimate magazine theme for WordPress.
BTC
$54,999.87
+0.24%
ETH
$3,600.98
-0.05%
LTC
$180.16
-0.43%
DASH
$192.95
+1.21%
XMR
$280.87
-0.15%
NXT
$0.02
+3.28%
ETC
$56.38
+4.27%
DOGE
$0.25
+0.77%
ZEC
$126.65
+1.27%
BTS
$0.05
+1.45%
DGB
$0.05
-0.88%
XRP
$1.11
+3.73%
BTCD
$138.16
+0.24%
PPC
$0.89
+2.25%
CRAIG
$0.01
+0.24%
XBS
$3.03
-0.05%
XPY
$0.01
0%
PRC
$0.00
0%
YBC
$2,300.00
0%
DANK
$0.01
+0.24%

Inventronics Announces 2020 Year End Financial Results

CALGARY, Alberta, April 13, 2021 (GLOBE NEWSWIRE) – Inventronics Limited (“Corporation”) (IVX: TSX Venture), a designer and manufacturer of custom enclosures for the telecommunications, electrical transmission, cable television and other industries in North America , today announced its audited and unaudited 2020 Q4 financial results.

For the year ended December 31, 2020, the Corporation reported net income of $ 684,000, or 15.5 cents a share, on revenue of $ 5,640,000, compared to net income of $ 195,000, or 4.4 cents a share , on fiscal 2019 revenue of $ 5,656,000. For the three months ended December 31, 2020, the Corporation reported a net loss of $ 15,000, or 0.4 cents per share, on revenue of $ 955,000, compared to a net loss of $ 151,000, or 3.5 cents a share, on revenue of $ 947,000, for the same period in 2019.

Selected financial information

Highlights of income

Three months ended

Twelve months ended

(in thousands of dollars, except per share amounts)

Dec 31
2020

Dec 31
2019

Dec 31
2020

Dec 31
2019

Revenue

955

947

5,640

5,656

EBITDA

41

(87)

930

452

Net profit (loss)

(15)

(151)

684

195

Basic profit (loss) per share

(0.4) ¢

(3.5) ¢

15.5 ¢

4.4 ¢

Overview of financial position Highlights

(in thousands of dollars)
Like with

Dec 31
2020

Dec 31
2019

Working capital

1078

620

Tangible fixed assets

2,310

2145

Long-term liabilities, including short-term portion

2,129

2148

Equity

1,309

621

More information about the Corporation’s financial results can be found in the Corporation’s audited financial statements for the year ended December 31, 2020 and in Management’s Discussion and Analysis, filed with SEDAR at www.sedar.com.

About Inventronics

Inventronics Limited designs and manufactures custom enclosures and other products for a variety of customers in the telecommunications, electricity, cable television, oil and gas, electronics and computer services industries in North America. The Corporation owns its ISO 9001 registered manufacturing facility in Brandon, Manitoba.

Story continues

Inventronics shares are traded on the TSX Venture Exchange under the symbol “IVX”. For more information about the Corporation, its products and services, visit www.inventronics.com.

Non-IFRS measures

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

FOR MORE INFORMATION, DIRECT TO:

Dan J. Stearne, President and CEO (204) 717-0487 [email protected]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the TSX Venture Exchange policy) accepts responsibility for the adequacy or accuracy of this release.

Comments are closed.