Inventronics Announces 2024 Q3 Financial Results

/EIN News/ -- CALGARY, Alberta, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Inventronics Limited (“Inventronics” or the “Corporation”) (IVX:TSX Venture), a designer and manufacturer of enclosures for the telecommunications, cable, power distribution, energy and other industries in North America, today announced its unaudited 2024 Q3 financial results.

For the three months ended September 30, 2024, Inventronics reported net earnings of $31,000, or 0.6 cents per share, on revenue of $1,604,000 compared to a net loss of $94,000, or 1.9 cents per share, on revenue of $1,463,000 for the three months ended September 30, 2023. For the nine months ended September 30, 2024, Inventronics reported net earnings of $180,000, or 3.7 cents per share, on revenue of $4,981,000 compared to net earnings of $576,000, or 11.8 cents per share, on revenue of $7,900,000 for the comparative period in 2023.

Selected Financial Information
Income Highlights	Three months ended		Nine months ended
(in thousands of dollars, except per share amounts)	Sept 30 2024	Sept 30 2023	Sept 30 2024	Sept 30 2023
Revenue	1,604	1,463	4,981	7,900
Net earnings (loss)	31	(94)	180	576
Basic earnings per share	0.6¢	(1.9)¢	3.7¢	11.8¢

Statement of Financial Position Highlights
As at (in thousands of dollars)	Sept 30 2023	Dec 31 2023
Working capital	1,775	2,254
Property, plant and equipment	3,268	3,234
Long-term debt, excluding current portion	2,298	2,437
Shareholders’ equity	2,508	2,814

Further information about the financial results of the Corporation can be found in the Corporation's unaudited interim financial statements for the quarter ended September 30, 2024 and accompanying management's discussion and analysis ("2024 Q3 MD&A") filed on SEDAR+ at www.sedarplus.ca.

About Inventronics

Inventronics Limited designs and manufactures enclosures and other products for an array of customers in the telecommunications, cable, power distribution, energy, and other industries in North America. The Corporation owns its ISO 9001-registered production facility in Brandon, Manitoba.

Shares of Inventronics trade on the TSX Venture Exchange under the symbol “IVX.” For more information about the Corporation, its products and its services, go to www.inventronics.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FOR FURTHER INFORMATION PLEASE CONTACT:
                    Dan J. Stearne, President and CEO
                    (204) 717-0487
                    dstearne@inventronics.com