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Inventronics Announces 2021 Year End Financial Results

Inventronics Limited
·2 min read
Inventronics Limited
Inventronics Limited

CALGARY, Alberta, March 25, 2022 (GLOBE NEWSWIRE) -- Inventronics Limited (“Corporation”) (IVX:TSX Venture), a designer and manufacturer of enclosures for the telecommunications, electric transmission, cable television and other industries in North America, today announced its 2021 audited annual and unaudited 2021 Q4 financial results.

For the year ended December 31, 2021, the Corporation reported net earnings of $1,890,000, or 41.0 cents per share, on revenue of $9,843,000 compared to net earnings of $684,000, or 15.5 cents per share, on revenue of $5,640,000 for the 2020 fiscal year. For the three months ended December 31, 2021, the Corporation reported net earnings of $302,000, or 6.6 cents per share, on revenue of $1,919,000 compared to a net loss of $15,000, or 0.4 cents per share, on revenue of $955,000, for the same period in 2020.

Income Highlights

Three months ended

Twelve months ended

(in thousands of dollars, except per share amounts)

Dec 31
2021

Dec 31
2020

Dec 31
2021

Dec 31
2020

Revenue

1,919

955

9,843

5,640

Net earnings (loss)

302

(15)

1,890

684

Basic earnings (loss) per share

6.6¢

(0.4)¢

41.0¢

15.5¢


Statement of Financial Position Highlights

(in thousands of dollars)
As at

Dec 31
2021

Dec 31
2020

Working capital

1,527

1,078

Property, plant and equipment

2,298

2,310

Long-term debt, including current portion

2,101

2,129

Shareholders’ equity

2,287

1,309

Further information about the financial results of the Corporation can be found in the Corporation's audited financial statements for the year ended December 31, 2021 and accompanying management's discussion and analysis, which have been filed on SEDAR at www.sedar.com.

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About Inventronics

Inventronics Limited designs and manufactures enclosures and other products for an array of customers in the telecommunications, electric utility, cable television, oil and gas, electronics and computer services 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.

FOR FURTHER INFORMATION PLEASE CONTACT:

Dan J. Stearne, President and CEO (204) 717-0487 dstearne@inventronics.com

Neither the 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.