PFB Corporation
TSX : PFB

PFB Corporation

November 03, 2009 16:47 ET

PFB Corporation Announces Third Quarter Results for 2009 and Declares Regular Quarterly Dividend

CALGARY, ALBERTA--(Marketwire - Nov. 3, 2009) - PFB Corporation (TSX:PFB) reports its financial results for the three and nine month periods ended September 30, 2009, and declares regular quarterly dividend.

Results for the Three Month and Nine Month Periods Ended September 30, 2009

Consolidated net income for the three months ended September 30, 2009, was $1,594,000, basic earnings of $0.24 per share, compared to net income of $1,080,000, basic earnings of $0.16 per share reported in the comparative three months of 2008. Sales were $18,834,000 in the third quarter of 2009 as compared to sales of $24,625,000 in the third quarter of 2008, a decrease in sales of $5,791,000 or 23.5%.

Consolidated net income for the nine month period ended September 30, 2009 was $2,510,000, basic earnings of $0.38 per share, as compared to net income of $1,137,000, basic earning of $0.17 per share in the comparative nine months in 2008. Sales in the nine month period ended September 30, 2009 were $50,074,000 as compared to sales of $60,836,000 in the nine months ended September 30, 2008, a decrease in sales of $10,762,000 or 17.7%.

Quarterly Dividend Payment

The Board of Directors has approved the payment of a regular quarterly dividend of $0.06 per common share. The dividend will be paid on November 30, 2009, to shareholders of record on November 13, 2009.

About PFB

PFB Corporation is a vertically integrated manufacturer of insulating building products that are marketed across North America under four brands. Plasti-Fab, EPS Product Solution® are products, manufactured using expanded polystyrene (EPS) as base raw materials, that are delivered to customers in five segmented markets. Advantage ICF Systems® are insulating concrete forming systems that are employed to build insulated foundations and walls from concrete in both residential and commercial markets. Insulspan® Structural Insulating Panels Systems (SIPS) are used to create a building's structural wall frame and to replaces trusses on roof systems to form an energy-efficient structural envelope. Riverbend® Timber Framing manufactures and sells precision-cut, custom-crafted solid timbers to exacting standards which are delivered to customer's jobsites as ready-to-assemble building packages in conjunction with Insulspan SIPS for the walls and roof, and Advantage ICFS for the building's foundations.

PFB Corporation is listed for trading on the Toronto Stock Exchange, symbol PFB.

PFB Corporation's interim unaudited consolidated financial statements and MD&A for the third quarter of fiscal 2009 will be posted on SEDAR (www.sedar.com) by November 14, 2009.

Contact Information

  • PFB Corporation
    Stephen P. Hardy
    Vice President & CFO
    (403) 569-4303
    (403) 569-4075 (FAX)
    or
    PFB Corporation
    100, 2886 Sunridge Way NE
    Calgary, Alberta T1Y 7H9