CALGARY, ALBERTA — (Marketwired) — 11/26/14 — CEMATRIX Corporation (TSX VENTURE: CVX) (the “Corporation” or the “Company” or “CEMATRIX”) announces the release of its consolidated financial results for the quarter and nine months ended September 30, 2014.
Third Quarter Highlights
– The Company secured a record $6.8 million contract, the largest contract in the history of the Company, and several other signed orders for oil sands and refinery and infrastructure projects in the amount of $6.0 million for a total of $12.8 million in aggregate. This year–s total contracted work is now a record $17.3 million. Currently $9.4 million of this contracted work is scheduled for completion in 2014, $6.9 million in 2015 and $1.0 million in 2016.
– The Company recorded third quarter sales of $967,382, which brings sales for the first nine months of 2014 to $4,298,846. Sales in the third quarter were lower than forecast as a number of projects were re-scheduled to the fourth quarter. The current forecast, based on the scheduled contracted work mentioned above and other forecast sales, is that sales in the fourth quarter will be close to $5.2 million or 55% of the 2014 forecast sales. The Company continues to work on contracting additional work for 2014 and 2015.
– The loss in the third quarter of $405,994 and the year to date loss of $1,045,884 are the result of the delays in projects and the impact of hiring and training additional operating staff in anticipation of increased activity for projects originally scheduled to commence in the summer, but now contracted and scheduled for the fourth quarter of 2014.
Financial Results
Selected financial information for the quarters and nine months ended September 30, 2014 and 2013 is as follows:
This press release should be read in conjunction with the Corporation–s unaudited Consolidated Financial Statements and Management Discussion and Analysis for the quarter and nine months ended September 30, 2014, both of which can be found on SEDAR.
CEMATRIX is an Alberta corporation with its head offices in Calgary, Alberta. The Corporation, through its wholly owned subsidiary, is a manufacturer and supplier of technologically advanced cellular concrete products with applications in a variety of markets, including oil and gas construction and infrastructure construction. Cellular concrete provides a cost and labour saving solution as a replacement for rigid and other insulating materials in frost-susceptible or permafrost conditions. Cellular concrete is also used in void filling situations and as a replacement for granular fills and weak or unstable soils.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking information: This news release contains certain information that is forward looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as “anticipate”, expect”, “would– or other similar words). Forward looking statements in this document are intended to provide CEMATRIX security holders and potential investors with information regarding CEMATRIX and its subsidiaries– future financial and operations plans and outlook. All forward looking statements reflect CEMATRIX–s beliefs and assumptions based on information available at the time the statements were made. Readers are cautioned not to place undue reliance on this forward looking information. CEMATRIX undertakes no obligation to update or revise forward looking information except as required by law. For additional information on the assumptions made and the risks and uncertainties which may cause actual results to differ from the anticipated results, refer the CEMATRIX–s Management Discussion and Analysis dated November 25, 2014 under CEMATRIX–s profile on SEDAR at and other reports filed by CEMATRIX with Canadian securities regulators.
Contacts:
CEMATRIX Corporation
Jeff Kendrick
President and Chief Executive Officer
(403) 219-0484
The Howard Group
Jeff Walker
Investor Relations
(888) 221-0915 or (403) 221-0915
The Howard Group
Brad Dryer
Investor Relations
(888) 221-0915 or (403) 221-0915