Thursday, 2 August 2012

CEMATRIX Has Record Second Quarter

CEMATRIX Corporation
CVX - TSX Venture
Shares issued: 33.4 million
Fully diluted: 37.4 million

In the view of management, CEMATRIX is looking to “cement” its best year yet in both sales and profitability. The strong Q2 numbers released today indicate CVX’s pursuit of meeting that objective.

The cellular concrete company did just over $2.9 million in sales in Q2 which was up 59% from the $1.8 million in the same period last year. It recorded $335,444 in earnings or approximately a penny a share based on 33.4 million shares issued.

Revenues for the first six months of the year were $3.238 million versus $2.656 in the first half of 2011. The traditionally weak Q1 due to the seasonality of the construction industry in Canada resulted in a loss in the half of $329 thousand compared to $156 thousand, first half last year.

Approximately 78% of revenues came from the infrastructure sector and the remaining from oil and gas projects.

CEMATRIX currently has $6.4 million of sales contracted for projects to be completed this year with the majority of that number coming in the current Q3.

To read the news release, click here.......