Xebec Adsorption expects F2017 EPS of four to six cents
MONTREAL, (QC) / TheNewswire / June 19, 2017 - Xebec Adsorption Inc. (XBC) ("Xebec"), a global provider of gas generation, purification, and filtration solutions announced today that all of the nominees listed in the Management Information Circular dated May 12, 2017 were elected as Xebec Directors at the Company's Annual General Meeting held on June 15, 2017 in Montreal, Quebec, Canada. Additionally, Xebec provided updated, improved earnings guidance for fiscal 2017.
Directors were elected by majority vote cast by shareholders present or represented by proxy. Appointed:
William Beckett
Dr. Prabhu Rao
Joseph H. Petrowski
Guy Saint-Jacques
Kurt Sorschak
In its press release of May 24, 2017, Xebec provided earnings guidance for fiscal 2017 which was in the range of 0.01 to 0.03 per share. Preliminary financial data for Q2/17 indicates that revenues in Q2/17 and favorable changes in the order mix will lead to a material change in the outlook for earnings in 2017. Consequently, Xebec is now guiding toward higher earnings, expecting in the range of 0.04 to 0.06 per share for fiscal 2017. Xebec anticipates that revenues will be in the range of CDN$ 15 to 18 million for 2017.
About Xebec Adsorption Inc.
Xebec Adsorption Inc. is a global provider of gas generation, purification and filtration solutions for the industrial, energy and renewables marketplace. Its customers range from small to multi-national corporations and governments looking to reduce their carbon footprints. Headquartered in Montreal (QC), Xebec designs, engineers and manufactures innovative and transformative products, and has more than 1,500 customers worldwide. With two manufacturing facilities in Montreal and Shanghai, as well as a sales and distribution network in North America, Europe, and Asia, Xebec trades on the TSX Venture Exchange under the symbol XBC. For additional information on the company, its products and services, visit Xebec at xebecinc.com.
