Le Lézard
Classified in: Science and technology, Business
Subject: ERN

Inventronics Announces 2022 Q2 Financial Results


CALGARY, AB, Aug. 12, 2022 /CNW/ - Inventronics Limited ("Inventronics" or the "Corporation") (TSXV: IVX), a designer and manufacturer of enclosures for the telecommunications, cable, power distribution, energy and other industries in North America, today announced its unaudited 2022 Q2 financial results.

For the three months ended June 30, 2022, Inventronics reported net earnings of $803,000, or 16.7 cents per share, on revenue of $4,219,000 compared to net earnings of $440,000, or 9.8 cents per share, on revenue of $2,776,000 for the three months ended June 30, 2021.  For the six months ended June 30, 2022, Inventronics reported net earnings of $1,305,000, or 27.2 cents per share, on revenue of $7,974,000 compared to net earnings of $621,000, or 13.8 cents per share, on revenue of $4,576,000 for the comparative period in 2021. The increase in revenue and profitability is a result of increased demand in both Canada and the USA for internet bandwidth and changing communication technologies that utilize the Corporation's enclosures.

Selected Financial Information

Income Highlights


Three months ended

Six months ended

(in thousands of dollars, except per share amounts)


Jun 30

2022

Jun 30

2021

Jun 30

2022

Jun 30

2021

Revenue


4,219

2,776

7,974

4,576

Net earnings


803

440

1,305

621

Basic earnings per share


16.7¢

9.8¢

27.2¢

13.8¢

 

Statement of Financial Position Highlights




(in thousands of dollars)

As at


Jun 30

2022

Dec 31

2021

Working capital


3,284

1,527

Property, plant and equipment


2,341

2,298

Long-term debt, excluding current portion


2,018

2,049

Shareholders' equity


3,637

2,287

 

Further information about the financial results of the Corporation can be found in the Corporation's unaudited interim financial statements for the quarter ended June 30, 2022 and accompanying management's discussion and analysis ("2022 Q2 MD&A") which have been filed on SEDAR at www.sedar.com.

About Inventronics

Inventronics Limited designs and manufactures enclosures and other products for an array of customers in the telecommunications, cable, power distribution, energy, and other industries in North America. The Corporation owns its ISO 9001-registered production facility in Brandon, Manitoba.

Shares of Inventronics trade on the TSX Venture Exchange under the symbol "IVX." For more information about the Corporation, its products and its services, go to www.inventronics.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Inventronics Limited


These press releases may also interest you

at 17:03
The Mutual Fund Dealers Association of Canada (the "MFDA") has commenced disciplinary proceedings in respect of John Dixon Moody (the "Respondent"). In its Notice of Hearing dated September 9, 2022 (the "Notice of Hearing"), Staff of the MFDA alleges...

at 17:03
HiBid.com exceeded 1,500 online-only and webcast auctions last week and facilitated the sale of more than $48.3 million (gross auction proceeds) in assets. From September 19th through the 25th, HiBid.com averaged 1.57 million bids on the site per...

at 17:01
The global tonies® family is growing: From October 4, Tonieboxes and Tonies will be available for all children in Hong Kong. The launch in Hong Kong is the first step into the Asian-Pacific market as part of a successful internationalisation...

at 17:00
ABERDEEN INTERNATIONAL INC. ("Aberdeen" or the "Company") announces that it has sold 7,000,000 common shares of Medivolve Inc. ("Medivolve") (NEO: MEDV) on September 22, 2022, which has resulted in Aberdeen's ownership being reduced by 1.7% to less...

at 17:00
PRO Real Estate Investment Trust ("PROREIT" or the "REIT") announced today that it has completed the sale of a portfolio of nine non-core retail properties totalling approximately 94,000 square feet of gross leasable area ("GLA"), located in Western...

at 17:00
Santa Cruz County Bank  www.sccountybank.com with assets over $1.7 billion, is a top-rated community bank headquartered in Santa Cruz County. Today the bank announced the future retirement of Executive Vice President and Chief Financial Officer, Vic...



News published on 13 august 2022 at 17:07 and distributed by: