Imperial Metals Corporation

Imperial Metals Corporation

March 23, 2005 13:46 ET

Imperial Reports 2004 Financial Results


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: IMPERIAL METALS CORPORATION

TSX SYMBOL: III

MARCH 23, 2005 - 13:46 ET

Imperial Reports 2004 Financial Results

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 23, 2005) - Imperial
Metals Corporation (TSX:III) reports 2004 net income of $3.6 million,
compared net income of $1.8 million in 2003. Cash flow applied to
operations was $3.8 million, compared to $2.4 million generated from
operations in 2003. Higher metal prices increased the Company's share of
income from Huckleberry to $8.1 million in 2004 compared to $5.7 million
in 2003. Huckleberry's income in 2004 included a $7.4 million foreign
exchange gain on long term debt compared to a gain of $11.3 million in
2003.



Year Ended Year Ended
December 31, 2004 December 31, 2003
(restated)
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(000's) (000's)
Revenues $1,125 $36,207
Operating (Loss) Income $(4,443) $2,100
Net Income $3,640 $1,780
Basic Income Per Share $0.14 $0.09
Diluted Income Per Share $0.13 $0.08
Cash Flow (1) $(3,832) $2,413
Cash Flow Per Share (1) $(0.15) $0.12
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Imperial Metals is an operating mining company based in Vancouver,
British Columbia. For additional information on operations and
exploration activities, visit the Company's website
www.imperialmetals.com.

(1) Cash Flow and Cash Flow per share are measures used by the Company
to evaluate its performance, however they are not terms recognized under
generally accepted accounting principles. Cash Flow is defined as cash
flow from operations before net change in working capital balances and
Cash Flow per Share is the same measure divided by the weighted average
number of common shares outstanding during the period.


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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Imperial Metals Corporation
    Brian Kynoch
    President
    (604) 669-8959
    (604) 687-4030 (FAX)
    or
    Imperial Metals Corporation
    Andre Deepwell
    Chief Financial Officer
    (604) 488-2666
    or
    Imperial Metals Corporation
    Sabine Goetz
    Investor Relations
    (604) 488-2657
    info@imperialmetals.com
    www.imperialmetals.com