Automodular Corporation

Automodular Corporation

March 30, 2005 12:39 ET

Automodular Corporation 2004 Results


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: AUTOMODULAR CORPORATION

TSX SYMBOL: AM

MARCH 30, 2005 - 12:39 ET

Automodular Corporation 2004 Results

TORONTO, ONTARIO--(CCNMatthews - March 30, 2005) - Automodular
Corporation (TSX:AM) ("Automodular") reports a 2004 net loss of $10.4
million or $0.55 per share on sales of $93.5 million compared to net
earnings of $3.7 million or $0.20 per share on sales of $107.9 million
in 2003. The current year included an $11.3 million write-off of
goodwill and intangible assets relating to Automodular's Michigan-based
operations. Excluding this charge, the Company would have reported net
earnings of $0.9 million or $0.05 per share.

Automodular's consolidated financial statements, management discussion
and analysis and annual information form for the year ended December 31,
2004 will be filed on SEDAR on March 31, 2005 and the complete annual
report will be mailed to shareholders on or about April 13, 2005.

Automodular Corporation is a supplier of sub-assembly, sequencing,
transportation and logistics services to North American automobile
manufacturers and their Tier 1 suppliers serving assembly plants in
Ontario, Michigan and Ohio. Automodular employs more than 800 people in
seven operating facilities.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Automodular Corporation
    Chris Nutt
    Vice President, Finance
    (905) 665 0060 x 126
    c.nutt@automodular.com