BURNABY, BC, Aug. 4, 2015 /CNW/ - IWG Technologies Inc.
(IWG) today announced its financial results for the quarter ended
June 30, 2015. All amounts are
expressed in Canadian dollars unless otherwise indicated.
The Company is pleased to announce third quarter revenue of
$2,453,910, a 29% increase over
$1,901,066 earned in the third
quarter of fiscal 2014. Income from operating activities was
$465,065 (vs. $261,414 in fiscal 2014), while net earnings were
$328,525 (vs. $194,549 in fiscal 2014).
Nine month revenue was $6,782,853,
a 30% increase over $5,226,973 from
the same period of the prior year. Income from operating
activities was $1,267,437 (vs.
$764,632 in fiscal 2014) and net
earnings were $881,766 (vs.
$467,940 in fiscal 2014).
This year's third quarter results provided net earnings of 0.8¢
per share (2.3¢ year-to-date) compared to 0.5¢ in the same period
of the prior year (1.2¢ year-to-date). Detailed financial
statements and MD&A will be available on www.sedar.com and
the company website at www.iwgtech.com.
The results are summarized as follows:
|
|
|
|
|
Three month period
ended
|
|
Nine month period
ended
|
|
|
|
June
30
|
|
|
|
June
30
|
Expressed in
thousands of dollars
|
2015
|
2014
|
Change
|
|
2015
|
2014
|
Change
|
|
(except per share
amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue
|
$ 2,454
|
$ 1,901
|
29%
|
|
$ 6,783
|
$ 5,227
|
30%
|
Gross
Profit
|
1,112
|
1,022
|
9%
|
|
3,202
|
2,720
|
18%
|
Operating
Income
|
465
|
261
|
78%
|
|
1,267
|
765
|
66%
|
Net Income
|
329
|
195
|
69%
|
|
882
|
468
|
88%
|
Net Income per
Share
|
0.008
|
0.005
|
|
|
0.023
|
0.012
|
|
EBITDA
|
676
|
354
|
91%
|
|
1,654
|
850
|
95%
|
EBITDA per
Share
|
0.017
|
0.009
|
|
|
0.042
|
0.022
|
|
"With this 12th consecutive quarter of profitability,
IWG's FY15 is shaping up to be our strongest year yet" says
Bruce Gowan, IWG's Chairman.
Darryl Jacobs, President of
International Water-Guard Industries commented further. "Our
results improved significantly this quarter as a result of new
business, increased demand and improved operating performance. As
well, the strong US dollar continues to support to our performance
for the year. Additionally, deliveries of our T-Series heaters to
the completion center market commenced in the final part of the
quarter which will add to our product sales moving forward."
IWG Technologies Inc. is the public holding company for
International Water-Guard Industries Inc., a Canadian aerospace
company focused on aircraft potable water treatment, water systems,
water heaters and components. IWG has expertise in all aspects of
water treatment, has the products and know-how to provide high
quality water for passengers and crew, and has lightweight,
space-saving solutions for the aircraft operator.
On behalf of the Board of Directors
Bruce Gowan
Chairman of the Board
This news release contains certain forward-looking statements
that reflect the current views and/ or expectations of IWG with
respect to its performance, business and future events including
statements with respect to completion of proposed or future
transactions. Such statements are subject to a number of risks,
uncertainties and assumptions, which may cause actual results to be
materially different from those expressed or implied. IWG
assumes no future obligation to update these forward looking
statements except as required by applicable securities laws.
NEITHER THE 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.
TSX VENTURE: IWG
SOURCE IWG Technologies Inc.