logo
  Join        Login             Stock Quote

5N Plus Inc. Reports Record Sales and Earnings for the Fourth Quarter and Year Ended May 31, 2008

Monday, August 11, 2008 7:46 PM


MONTREAL, Aug. 11 /CNW Telbec/ - 5N Plus Inc. (TSX: VNP) today announced financial results for the fourth quarter and year ended May 31, 2008.

Highlights of the fourth quarter and year ended May 31, 2008
- Net earnings for the fourth quarter were $3,178,621 or $0.08 per share,
  representing a 160% increase over net earnings of $1,222,428 or
  $0.04 per share for the fourth quarter of the previous fiscal year.
  For the fiscal year, net earnings were $7,766,137 or $0.22 per share,
  representing an increase of 117.3% over net earnings of $3,574,082 or
  $0.12 per share for the previous fiscal year.
- EBITDA(1) for the fourth quarter was $4,646,476, representing an
  increase of 86.7% over EBITDA of $2,488,087 for the fourth quarter of
  the previous fiscal year. EBITDA reached $12,481,760 for the fiscal
  year, an increase of 73.3% over EBITDA of $7,202,310 for the previous
  fiscal year.
- Sales for the fourth quarter were $9,423,908, representing an increase
  of 43.9% over sales of $6,549,412 for the fourth quarter of the
  previous fiscal year. Sales for the fiscal year were $30,972,941, an
  increase of 41.4% compared to sales of $21,897,240 for the previous
  fiscal year.
- Operational performance was outstanding throughout the year as the
  Company increased production throughput at its Montreal facility, to
  meet the growing requirements of the Company's customers, while
  improving efficiency and reducing costs.
- Cash flow from operating activities, excluding changes in non-cash
  working capital items, increased to $3,552,457 for the quarter and
  $9,880,266 for the fiscal year. This compares to $1,553,438 and
  $4,738,467 for the corresponding periods of the previous fiscal year.
- Shareholders' equity significantly increased during the fourth quarter
  and the fiscal year, reaching $91,553,930 at year end, up from
  $7,546,467 at the end of the previous fiscal year. During the fourth
  quarter, the Company raised $46,200,000 through the issuance of
  4 million common shares, which resulted in net proceeds of $44,147,461
  (net of issue expenses). This followed the closing of the Company's
  initial public offering which occurred during the third quarter of the
  fiscal year, resulting in net proceeds to the Company of $31,417,006
  (net of issue expenses).
- Cash and cash equivalents totalled $59,576,743 at year end, compared to
  $1,526,932 at the end of the previous fiscal year.
- During the fiscal year, the Company invested $14,383,791 to build and
  commission its Eisenhuttenstadt facility and $3,178,784 to upgrade and
  expand the capabilities of its Montreal facility, for a total
  investment in capital expenditures of $17,562,575.

"We are pleased to report our fourth quarter and year end results which were truly outstanding and exceeded our expectations both in terms of financial and operational performance. Earnings, EBITDA and sales all reached record levels during the fourth quarter and the year, in much the same way as they had in the previous reporting periods. Most noticeable are the increases in earnings, EBITDA and cash flow from operations which reflect our solid operational performance in both the quarter and throughout the year.


Advertisement
Advertisement



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.