CEMATRIX Corporation Announces Results for the Quarter Ended March 31, 2014
2014年5月10日 - 12:24AM
Marketwired
CEMATRIX Corporation Announces Results for the Quarter Ended March
31, 2014
CALGARY, ALBERTA--(Marketwired - May 9, 2014) - CEMATRIX
Corporation (TSX-VENTURE:CVX) (the "Corporation" or the "Company"
or "CEMATRIX") announces the release of its consolidated financial
results for the quarter ended March 31, 2014.
First Quarter
Highlights
- The Company recorded first quarter sales of $260,960 compared
with $1,997,842 for the same period last year. The Company's
revenue is seasonal in nature and generally follows the
construction period in Canada from May through to October. As a
result, the sales in the first quarter of the year are normally
much lower than at any other time of the year. Sales in the first
quarter of 2013 were abnormally high as the Company benefitted from
a winter infrastructure project in Windsor, Ontario. There was no
similar project in 2014.
- The lower sales combined with a non-cash charge for
share-based payment expense of $126,000, related to options issued
in March 2014 to replace options that had expired in 2013,
contributed to the loss before income taxes of $894,367 compared
with a loss of $8,574 in the same period in 2013.
- The Company added $1.2 million of sales orders, bringing this
year's total contracted work to date to $3.2 million, most of which
is scheduled for the first six months of the year.
- In February 2014 the Company's wholly owned subsidiary,
CEMATRIX (Canada) Inc. issued a $1,000,000 secured debenture to
provide funds for capital spending and working capital.
First Quarter
Results
Selected financial
information for the quarters ended March 31, 2014 and 2013 is as
follows:
|
|
Three Months Ended March 31 |
|
|
|
2014 |
|
|
2013 |
|
|
Change |
|
|
|
Revenue |
$ |
260,960 |
|
$ |
1,997,842 |
|
$ |
(1,736,882 |
) |
|
|
Gross margin |
$ |
(234,928 |
) |
$ |
441,536 |
|
$ |
(676,464 |
) |
Operating expenses * |
|
(621,074 |
) |
|
(425,333 |
) |
|
(195,741 |
) |
Operating income (loss) |
|
(856,002 |
) |
|
16,203 |
|
|
(872,205 |
) |
Finance and other expenses |
|
(38,365 |
) |
|
(24,777 |
) |
|
(13,588 |
) |
Loss before income taxes |
|
(894,367 |
) |
|
(8,574 |
) |
|
(885,793 |
) |
Provision of deferred taxes |
|
173,754 |
|
|
(177 |
) |
|
173,931 |
|
Net loss attributable to the common shareholders |
|
(720,613 |
) |
|
(8,751 |
) |
|
(711,862 |
) |
Unrealized foreign exchange gain (loss) on translation of foreign
subsidiary |
|
(1,945 |
) |
|
3,496 |
|
|
(5,441 |
) |
Total comprehensive loss for period |
$ |
(722,558 |
) |
$ |
(5,255 |
) |
$ |
(717,303 |
) |
|
|
Loss per common share |
$ |
(0.02 |
) |
$ |
- |
|
$ |
(0.02 |
) |
|
|
|
|
|
|
|
|
|
|
*Includes $129,764 ($2,442 in 2013) non-cash charge
for share-based payment expense |
The outlook for 2014
remains positive. Management is forecasting continued growth in
Canadian infrastructure sales, growth in infrastructure sales in
the United States and a return of more significant sales in the
Western Canada oil and gas sector. The Company continues with its
plans to complete the construction of three new production units
and the opening of a regional operation site in Ontario.
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, 2014, 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 May 8, 2014 under CEMATRIX's profile on SEDAR at
www.sedar.com and other reports filed by CEMATRIX with Canadian
securities regulators.
CEMATRIX CorporationJeff KendrickPresident and Chief Executive
Officer(403) 219-0484The Howard GroupJeff WalkerInvestor
Relations(888) 221-0915 or (403)
221-0915jeff@howardgroupinc.com
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