Thursday, 29 November 2012

IWG Shares Surge On News Of Record Revenue And Earnings

IWG Technologies (TSX-V: IWG)
Basic Shares: 37.6 million
Fully Diluted: 39.7 million

This morning shareholders saw shares of IWG jump 30% on good volume of over 136 thousand as of this writing. The last time the share price reached $0.13 was early 2008. The positive move has been driven by news that IWG has achieved record revenue and earnings for fiscal 2012 (FYE September 30). 

Highlights include:
  • Revenue = $6.01 million, a 36% increase over last year
  • Net earnings = $526 thousand, a 63% jump from last year
  • Earnings per share = 1.4₵ compared to 0.8₵ last year
  • EBITDA = up 118% to $884 thousand from $405 thousand in F/11
  • EBITDA/share = up 130% to $0.023 from $0.01. 
In the news release Bruce MacCoubrey, President and CEO of IWG Technologies said, "Fiscal 2012 proved to be a record year as IWG experienced sales growth in all product lines. The water treatment products experienced strong growth in core products and in the new IWG-A6 product that began deliveries to Gulfstream for their new 650 aircraft. The new ES On-Demand Water Heater product, introduced in the fall of 2011, resulted in higher than expected sales levels for the year. Product repairs and parts sales set a new high in annual revenue."

To view the full news release please click here.