2014-07-17 17:00 ET - News Release
Dr. Michael Huddy reports
INTERNATIONAL BARRIER TECHNOLOGY -- FIRE-RESISTANT BUILDING MATERIALS COMPANY -- REPORTS FISCAL YEAR RECORD SALES REVENUE OF $8,054,700 AND RECORD SALES VOLUME OF 19,750,800 SQ. FT. FOR YE JUNE 30, 2014
International Barrier Technology Inc. has released sales revenue and sales volumes for the fiscal year ended June 30, 2014.
Monthly shipments of 2,087,800 square feet were recorded during the month of June, an 11-per-cent increase over the 1,873,100 square feet shipped in June, 2013. Record fourth quarter shipments were achieved as 6,649,800 square feet were shipped from April, 2014, to June, 2014, a 29-per-cent increase in comparison with 5,161,600 square feet during the same quarterly period last year.
Record sales volumes of 19,750,800 square feet were shipped for the fiscal year ending June 30, 2014. This was an increase of 49 per cent from the 13,243,700 square feet shipped in fiscal 2013. The residential roof deck/wall assembly/structural insulated panel market business grew by 49 per cent year over year and represented 73 per cent of total barrier shipments. The commercial modular market was up 42 per cent year over year and represented 27 per cent of total shipments.
Monthly sales revenue grew 7 per cent; quarterly sales revenue increased 10 per cent; and fiscal year sales revenue for the period ended June 30, 2014, was up 34 per cent from $5,995,040 to $8,054,700 over the comparable periods last year. Fiscal year sales revenue generated from the residential roof deck/wall assembly/structural insulated panel markets rose 52 per cent, and revenue from the commercial modular market inclined 40 per cent.
Accomplishments during fiscal 2014:
Secured overseas licence with leader in building products in the European Union and Russia, commercial production to begin later in fiscal 2015;
Record fiscal year sales volumes and revenues;
Double-digit growth in both sales volumes and sales revenues in both major market areas;
New Pyrotite product distribution network and significant sales growth in the southeast;
New UL-certified two-hour exterior-load-bearing wall for Type III construction.
Barrier's 10K annual financial report will be published on or before Sept. 29, 2014.
"Fiscal 2014 was a successful year for Barrier with significant sales growth of products manufactured with Pyrotite products, coupled with the overseas licence agreement," stated Dr. Michael Huddy, chief executive officer of the company. "As we approach capacity in our existing U.S. manufacturing plant in Minnesota, we are committed and focused on expansion by creating more capacity in other geographic regions of the [United States]."
We seek Safe Harbor.
AI
