Automodular Corporation
TSX : AM

Automodular Corporation

August 07, 2014 12:12 ET

Automodular Corporation: Second Quarter 2014 Results

AJAX, ONTARIO--(Marketwired - Aug. 7, 2014) - Automodular Corporation (TSX:AM) ("Automodular") reports net earnings of $1.6 million or $0.08 per share for the quarter ended June 30, 2014 compared to $0.8 million or $0.04 per share in the same period in 2013. For the six months ended June 30, 2014 and 2013, Automodular reports net earnings of $4.7 million and $4.4 million or $0.24 and $0.22 per share, respectively.

The results for the first half of the year are summarized below (all figures in '000s except per share amounts):

Three months ended June 30 Six months ended June 30
2014
$
2013
$
2014
$
2013
$
Sales 18,772 21,939 38,321 43,746
Net earnings 1,571 774 4,731 4,410
Per share (basic) 0.08 0.04 0.24 0.22

The Board of Directors has declared a regular quarterly dividend of $0.06 payable September 4, 2014 to shareholders of record as at August 21, 2014.

Automodular's interim consolidated financial statements and Management Discussion and Analysis for the period ended June 30, 2014 will be filed on SEDAR on or about August 11, 2014.

Automodular Corporation is a supplier of sub-assembly, sequencing and transportation services to the automotive industry - Ford Motor Company's Oakville Assembly Plant. The Company has two operating facilities and employs approximately 525 people.

This press release contains forward-looking statements that involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are market and general economic conditions and the risk factors detailed from time to time in the Company's periodic reports filed with the Canadian securities regulatory authorities and on SEDAR at www.sedar.com. Readers are cautioned not to rely on forward-looking statements. Except as required under continuous disclosure obligations, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Automodular does not provide financial outlooks.

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