Automodular Corporation

Automodular Corporation

November 12, 2007 14:13 ET

Automodular Third Quarter 2007 Results

TORONTO, ONTARIO--(Marketwire - Nov. 12, 2007) - Automodular ("Automodular" or "the Company") (TSX:AM) reports net earnings for the quarter ended September 30, 2007 of $1.5 million or $0.07 per share compared to $0.2 million or $0.01 per share in the same period in 2006. Net earnings were $5.2 million or $0.24 per share for the nine months ended September 30, 2007 compared to $1.4 million or $0.06 per share for the same period in 2006.

Current quarter and year to date results continue to be significantly stronger than in 2006 as a result of earnings generated by new program launches in Oakville and Oshawa that reached commercial production levels in Q1 2007 and Q4 2006, respectively.

The results are summarized below (all figures in '000s except per share):

Three months ended Nine months ended
September 30th September 30th
-------------------- -------------------
2007 2006 2007 2006
-------- --------- --------- --------

Sales $ 21,941 $ 10,206 $ 76,712 $ 45,229
Net earnings $ 1,546 $ 199 $ 5,245 $ 1,369
Earnings per share (i) $ 0.07 $ 0.01 $ 0.24 $ 0.06
Diluted shares outstanding 21,939 22,049 22,013 22,049
(i) (basic and diluted)

The outlook for the balance of 2007 remains positive and the Company expects to meet its previously disclosed 2007 budget metrics.

Automodular Corporation is a supplier of sub-assembly, sequencing, transportation and logistics services to five Original Equipment Manufacturer plants in Ontario and Ohio. The Company has five operating facilities and employs over 900 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 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.

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