THE MACYRO GROUP INC.

THE MACYRO GROUP INC.

March 14, 2005 10:10 ET

The Macyro Group Inc. Announces Its Results For Period Ended January 31, 2005


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: THE MACYRO GROUP INC.

TSX SYMBOL: MYO

MARCH 14, 2005 - 10:10 ET

The Macyro Group Inc. Announces Its Results For Period
Ended January 31, 2005

QUEBEC CITY, QUEBEC--(CCNMatthews - March 14, 2005) - The Macyro Group
(TSX:MYO) is pleased to announce its results for its third quarter ended
January 31, 2005, during which sales amounted to $10.5M which is in line
with the previous quarter total of $10.8M. Sales levels for the quarter
were up 45.4% from the same period last year. Net income was $245,680
($0.022 per share) in the second quarter versus $164,931 ($0.015 per
share) in the third quarter of 2004. Net income to date for the nine
months ended January 31, 2005 amounted to $717,285 versus $649,782 for
the same period last year.



HIGHLIGHTS

THOUSAND OF DOLLARS, EXCEPT PER SHARE AMOUNT

Period of 3 months
ended January 31,
2005 2004
$ $
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REVENUES 10,498 7,218
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Income before income taxes
and undernoted items 290 148
Income taxes 44 (17)
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Income resulting from continuing activities 246 165

Net earning from discontinued activities - -
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Net income 246 165
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Income per share 0.022 0.015

Average weighted number of shares outstanding 10,951,900 10,951,900


The Canadian dollar has remained very strong over the past quarter and
we expect that trend to continue in the foreseeable future. We continue
to purchase foreign exchange contracts to hedge against fluctuations but
as a major percentage of our sales continue to generate out of the
Southern United States, we have made the strategic decision to begin
some manufacturing in the US. Our new fabrication facility will open in
Florida in May of this year. Engineering and design expertise will
continue to be performed in Canada. Our subsidiary, Gamma Industries,
achieved some major milestones during the quarter as we completed the
megacomplex at Pierre Elliott Trudeau Airport in Montreal on time and on
budget. We have been successful in winning a number of new jobs and as
such our backlog has risen from $22M as reported in the last quarter to
just over $42M at the end of this quarter. Our cash position at the end
of the quarter remains very strong with cash and term deposits sitting
at $4.7M versus $3.2M at the end of the last quarter and $1.6M at the
same time last year. We remain confident in our competitive position in
the market place and our ability to continue to grow our market share
percentage over the next number of years.

Solaris Quebec Inc., which is 20% owned by the Company, continued to
contribute strong results for this quarter with an equity income of
$232,802 attributed to the Company.

The Company remains focused on improving all aspects of its business in
the hopes of delivering ever increasing value to its shareholders.

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    The Macyro Group inc.
    Kevin McCrann CA
    President and Chief Executive Officer
    (613) 237-7075