Thursday, 21 November 2013

IWG Has Record Year – Earnings Soar

IWG Technologies (TSX-V: IWG)
Basic Shares: 37.7 million
Fully Diluted: 39.7 million
Today, IWG announced its yearend financial results ending fiscal 2013 with both record revenues and earnings.

Revenue was up 10% to $6.6 million from $6 million last year, with net earnings increasing 84% to $969,996 from $526,310.

In today’s news, IWG attributes the growth across the board from its water treatment products, water heaters and water pumps, sales of the new M-1 water module, and parts and repairs.

The year’s results provided IWG with net earnings of 2.6 cents per share compared to 1.4 cents one year ago.  IWG has roughly 37.7 million shares outstanding and trades roughly between a $6 million and $7 million market cap, or six to seven times earnings.

To view the news release...please click here.