WINNIPEG, August 25, 2014 – Empire Industries Ltd. (TSX-V: EIL) today reported its unaudited consolidated financial results for the second quarter ended June 30, 2014. The unaudited consolidated financial statements and MD&A have been filed on SEDAR and can be viewed at www.sedar.com or at www.empind.com.
Summary of Second Quarter 2014 results
- Revenues increased by $6.5 million, or 23% (to $34.9 million from $28.4 million in second quarter 2013)
- Adjusted EBITDA remained constant at $1.5 million
- Net Income increased by $0.6 million (to $1.6 million from 1.0 million in second quarter 2013.
- Net Income per share remained constant at $0.005 per share
- Contract Backlog remains strong at $104 million, down from $123 million as of the Group’s first quarter report due to project execution;
“Our sales activity in the second quarter was busier than ever which is expected to bode well for future periods,” said Guy Nelson, Chief Executive Officer of Empire Industries Ltd. “Our production in all three business segments was also busy in the second quarter with the profit really strengthening in the steel fabrication segment.”
“Our sales activity in the second quarter was busier than ever which is expected to bode well for future periods,” said Guy Nelson, Chief Executive Officer of Empire Industries Ltd. “Our production in all three business segments was also busy in the second quarter with the profit really strengthening in the steel fabrication segment.”