CALGARY, ALBERTA--(Marketwire - Aug. 2, 2012) - CEMATRIX Corporation (TSX VENTURE:CVX) (the "Corporation" or the "Company" or "CEMATRIX") is pleased to announce the release of its consolidated financial results for the quarter and six months ended June 30, 2012.
Second Quarter Highlights
- The Company recorded record second quarter sales of $2,901,844, up by $1,076,869 or 59% from the same period in 2011.
- The Company reported record second quarter earnings of $335,444, compared with $85,241 in the same period in 2011, an improvement of $250,203.
- The Company added $3.3 million of sales orders bringing the total in the year to $8.7 million. The Company now has $6.4 million of contracted sales for work scheduled in 2012 and another $2.3 million for work scheduled for 2013.
Financial Results
Selected financial information for the quarters and six months ended June 30, 2012 and 2011 is as follows:
| Quarter ended June 30 | Six months ended June 30 | |||||||||||||||||
| 2012 | 2011 | Change | 2012 | 2011 | Change | |||||||||||||
| Revenue | $ | 2,901,844 | $ | 1,824,975 | $ | 1,076,869 | $ | 3,238,835 | $ | 2,656,106 | $ | 582,729 | ||||||
| Gross margin | 852,273 | 511,752 | 340,521 | 637,234 | 557,792 | 79,442 | ||||||||||||
| Operating expenses |
|
(498,295 |
) |
|
(375,898 |
) |
|
(122,397 |
) |
|
(966,691 |
) |
|
(714,171 |
) |
|
(252,520 |
) |
| Operating income (loss) | 353,978 |
|
|
135,854 |
|
|
218,124 |
|
|
(329,457 |
) |
|
(156,379 |
) |
|
(173,078 |
) |
|
| Finance costs and other items | (18,534 |
) |
|
(50,613 |
) |
|
32,079 |
|
|
(62,838 |
) |
|
(112,786 |
) |
|
49,948 |
|
|
| Comprehensive income (loss) |
$ |
335,444 |
|
$ |
85,241 |
|
$ |
250,203 |
|
$ |
(392,295 |
) |
$ |
(269,165 |
) |
$ |
(123,130 |
) |
| Income (loss) per common share | $ |
0.010 |
|
$ |
0.003 |
|
$ |
0.007 |
|
$ |
(0.012 |
) |
$ |
(0.008 |
) |
$ |
(0.004 |
) |
The outlook for 2012 remains positive. The Company has $6.4 million of sales contracted for projects that are currently scheduled for completion in 2012. The Company expects that the third quarter will be profitable as a significant part of these contracted sales are currently scheduled for completion during this period.
This press release should be read in conjunction with the Corporation's unaudited Consolidated Financial Statements and Management Discussion and Analysis for the quarter and six months ended June 30, 2012, 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.
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 August 1, 2012 under CEMATRIX's profile on SEDAR at www.sedar.com and other reports filed by CEMATRIX with Canadian securities regulators.
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.
Contact Information:
Jeff Walker
Investor Relations
(888) 221-0915 or (403) 221-0915
jeff@howardgroupinc.com
CEMATRIX Corporation
Jeff Kendrick
President and Chief Executive Officer
(403) 219-0484