CEMATRIX Corporation Announces Record First Quarter Sales for the Quarter Ended March 31, 2013
16 Mai 2013 - 3:25PM
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 ended March 31, 2013.
First Quarter Highlights
-- The Company reports record first quarter sales of $1.998 million, up by
$1.661 million from the same period last year. These record sales were
the primary reason for a $722,484 positive swing in the results.
-- The Company added $1.2 million of sales orders, bringing this year's
total contracted work to date to $5.1 million. These projects are
scheduled for completion in 2013 and consist of $4.1 million in the
infrastructure market and $1.0 million in the Alberta oil and gas
sector.
-- The revolving Credit Facility with a Canadian chartered bank was
modified to provide for a seasonal increase to $1,500,000 for the
calendar period April 1 to October 31.
-- The Company's wholly owned subsidiary, CEMATRIX (Canada) Inc., entered
into an agreement with the BDC which provides $530,000 of additional
capital expenditure financing. The outstanding amount under the BDC
Financing - Loan 2 of $269,000 at March 31, 2013 will be superseded into
a new loan, BDC Financing - Loan 3, for a total loan of $1,406,000. This
loan, of which $1,137,000 is undrawn, will be used to support planned
equipment additions and will be drawn down as these expenditures are
incurred.
First Quarter Results
Selected financial information for the quarters ended March 31, 2013 and 2012 is
as follows:
Quarter Ended March 31
-----------------------------------------
2013 2012 Change
Revenue $ 1,997,842 $ 336,991 $ 1,660,851
-----------------------------------------
-----------------------------------------
Gross margin $ 441,536 $ (215,039) $ 656,575
Operating expenses (425,333) (468,396) 43,063
-----------------------------------------
Operating income (loss) 16,203 (683,435) 699,638
Finance costs and other items (24,777) (46,341) 21,564
-----------------------------------------
Loss attributable to common
shareholders $ (8,751) $ (729,776) $ 721,225
-----------------------------------------
-----------------------------------------
Comprehensive loss attributable to
the shareholders $ (5,255) $ (727,739) $ 722,484
-----------------------------------------
-----------------------------------------
Loss per common share $ - $ (0.02) $ 0.02
-----------------------------------------
-----------------------------------------
The Company's revenue is seasonal in nature and generally follows the
construction period in Canada from May through to October. In 2013 the Company
benefitted from winter infrastructure projects in the Ontario and winter
projects in the oil and gas market in Alberta.
The outlook for 2013 remains positive. The Company has $5.1 million of sales
contracted for projects that are currently scheduled for completion in 2013.
This press release should be read in conjunction with the Corporation's
unaudited Consolidated Financial Statements and Management Discussion and
Analysis for the quarter ended March 31, 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.
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 May 15, 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:
CEMATRIX Corporation
Jeff Kendrick
President and Chief Executive Officer
(403) 219-0484
The Howard Group
Jeff Walker
Investor Relations
(888) 221-0915 or (403) 221-0915
jeff@howardgroupinc.com
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