Replies to post #1324 on IBC Advanced Alloys Corp (IAALF)

[jeunke22]

Yes, finally profitable and growing. Important break from years of subpar performance!

[monocle]

Company Achieves Net Profitability on Higher Sales: IBC recorded a comprehensive income of $171,000 in the quarter, or $0.00 per share, which compared to a loss of $639,000, or ($0.02) in the prior-year period. Profitability was driven by higher revenue and stronger gross margins, with consolidated sales up 12% in the quarter and higher by 17% year-to-date over the comparable prior-year periods.

Sales Improved Across Both Operating Divisions: Copper Alloys sales improved by 10% in the quarter and by 16% in the year-to-date period, as compared to the corresponding periods of 2019. Engineered Materials division sales rose by 18% in the quarter, and were higher by 20% in the year-to-date period, as compared to the comparable prior-year periods.

Stronger Gross Margins: Comprehensive gross margin strengthened in the quarter to 20.4%, from 11.9% in the prior-year period, and rose to 15.9% on a year-to-date basis from 10.1% in the nine months ended March 31, 2019.

Positive Adjusted EBITDA1: Consolidated adjusted earnings before interest, taxes, depreciation, and amortization (“Adjusted EBITDA”) for the quarter was $825,000, which compared to Adjusted EBITDA of ($167,000) for the prior-year period. Adjusted EBITDA for the nine-month period ended March 31, 2020 was $891,000, as compared to ($891,000) in the comparable prior-year period. Both operating divisions posted positive Adjusted EBITDA for the quarter and on a year-to-date basis.
FRANKLIN, Ind., May 11, 2020 (GLOBE NEWSWIRE) -- IBC Advanced Alloys Corp. (“IBC” or the “Company”) (TSX-V: IB; OTCQB: IAALF) announces its financial results for the quarter ended March 31, 2020.

In the quarter, the Company recorded comprehensive income of $171,000, or $0.00 per share, which was driven by higher sales across the Copper Alloys and Engineered Materials operating divisions. Consolidated sales in the quarter of $5.9 million were 12.5% higher than the prior-year period, and year-to-date (“YTD”) sales of $16.2 million were higher by 17.3% as compared to first nine months of fiscal 2019.

Excellent!