IWGRF.. $0.17.. New to the Under $0.25 Board.. IWG ANNOUNCES GROWING REVENUES AND OPERATING INCOME FOR THE THIRD QUARTER OF FISCAL 2013..
July 25, 2013 Burnaby, BC, Canada – IWG Technologies Inc. (IWG) today announced its financial results for fiscal 2013’s third
quarter ended June 30, 2013.
The Company is pleased to report third quarter revenue of $1,700,341, a 5% increase over last year’s figure of
$1,622,335. Income from Operating Activities was $344,998 vs. $38,401 in 2012 while net earnings were $180,891 compared to a $10,503 loss in 2012. These comparisons include a 2012 exceptional item of $294,666, or $210,392 after tax.
The nine month revenue was $4,886,746, a 12% increase over the comparable period of the prior year’s revenue of $4,354,909, with income from Operating Activities of $973,406 increasing 75% over the prior year’s nine month results when normalized by excluding the exceptional item noted above.
Net earnings for the nine months were $555,429, up 167% over last year.
This year’s third quarter results provided net earnings of 0.5¢ per share (1.5¢ year-to-date) compared to nil in the prior year (0.6¢ prior year-to-date), on both a basic and fully diluted basis. Detailed financial statements and MD&A will be available on www.sedar.com and the company website at www.iwgtech.com.
The results are summarized as follows:
Three month period ended Nine month period ended
June 30 June 30
Expressed in thousands of dollars 2013 2012 Change 2013 2012 Change
(except per share amounts)
Revenue $ 1,700 $ 1,622 5% $ 4,887 $ 4,355 12%
Gross profit 883 948 (7%) 2,529 2,328 9%
Operating income 345 38 798% 973 262 271%
Net income 181 (11) 555 208 167%
Net income per share 0.5¢ 0.0¢ 1.5¢ 0.6¢
EBITDA $ 299 $ 41 $ 927 $ 450
EBITDA per share 0.8¢ 0.1¢ 2.5¢ 1.2¢
“Third quarter results continue the Company’s growth in revenue and earnings which has been our focus during the year.” says Bruce Gowan, IWG’s Chairman.
“The third quarter results were impacted primarily by fluctuating after-market sales but the year-to-date results are
indicative of the overall growth of the business year-over-year” says Bruce MacCoubrey, President and CEO of International Water-Guard Industries Inc. “We are continuing our growth strategy of expanding existing product markets and providing new products to the industry”
IWG Technologies Inc. is the public holding company for International Water-Guard Industries Inc., a Canadian
aerospace company focused on aircraft potable water treatment, water systems, water heaters and components.
IWG has expertise in all aspects of water treatment, has the products and know-how to provide high quality water for passengers and crew, and lightweight, space-saving solutions for the aircraft operator.
On behalf of the Board of Directors
Bruce Gowan
Chairman of the Board
