Conporec Inc./2007 Annual Results : Net Profit of $2,6M
31 3월 2008 - 11:30PM
Marketwired
SOREL-TRACY, QUEBEC (TSX VENTURE: CNP)(ALTERNEXT: ALCNX)
announces today its results for the year ending on December 31,
2007. The Company has generated revenues of $7,6M for the twelve
months period of 2007 with a net profit of $2,6M compared to
revenues of $8,0M and a net loss of $4,5M for the same period of
2006.
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CA$M 2007 2006
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Turnover 7,6 8,0
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Gross Margin 1,1 1,3
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Net Results 2,6 -4,5
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Shareholders' Equity 13,4 1,8
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The year was highlighted by the debt restructuring resulting in
a net positive impact of $6,9M in the first quarter and by the
acquisition and construction work done at the La Prade Industrial
Park (Becancour Ca) worth $4,4M in the second quarter. Conporec has
also put significant emphasis on securing waste supply contracts
for its current and upcoming operating facilities in the following
quarters.
The project development team has focused its efforts on
submitting six tenders or qualification documents in France,
Ontario and Quebec. As well, the negotiations related to the
contract with Mindarie Regional Council (Australia) have led last
October 25th to the announcement of the imminent construction of
the new plant. Finally, the Company was proud to announce during
the year, that the Bureau de normalisation du Quebec (BNQ) issued a
certification for the compost produced at its Sorel-Tracy facility,
a first in Quebec and in Canada.
Revenues of $7,6M represent a 5,6% decrease compared with the
$8,0M revenues for the same period of 2006. Gross margin in 2007
were at $1,1M or 14% of revenues compared to gross margin of $1,3M
or 17% in 2006. This reduction is mainly due to the temporary
suspension of construction activities at the Tournan-en-Brie (Fr)
project. Sales and administration costs were maintained at $4,4M
and are in line with the efforts to increase market share by
promoting the Company technology.
The net profit for the period is at $2,6M or $0.21 per common
share, fully diluted, compared to a net loss of $4,5M or ($0.77)
per common share in 2006. The net profit of 2007 includes the debts
and debentures write-off. The shareholders' equity for December
31st, is $13,4M compared to $1,8M for the same date in 2006.
"The efforts carried out throughout 2007 allow us to foresee
increasingly positive results. The imminent start of the
construction of the Australian facility as well as the optimized
operations at the Becancour and Sorel-Tracy facilities, should
allow Conporec to reach its objectives and continue with the
implementation of its business plan", stated CEO Jean Beaudoin.
In addition, due to the greater maturity of the Company which
will require an increased involvement of its directors, and because
of their current occupation, MM. Jacques Putzeys and Jean-Marie
Santander presented their resignation to the board of directors.
The members of the Board express their sincere appreciation for
their contribution. The vacant positions will be replaced soon.
About Conporec
Conporec inc. develops, owns and operates various patented
technologies for the treatment and the recycling of residues into
valuable resources and energy. The company successfully delivered
or is in the process of completing plants in Canada, France, United
States and Australia. Conporec is a socially responsible
organization listed on the Toronto Stock Exchange (Venture) and the
NYSE/Euronext in Paris (Alternext).
Forward-looking statements contained in this press release
involve known and unknown risks, uncertainties or other factors
that may cause actual results, performance or achievements of the
company to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements.
The TSX Venture Exchange has not approved the information
contained herein and accepts no responsibility for it, nor the
validity of the operation planned.
Contacts: Conporec Inc. Jean Beaudoin President and CEO
450-746-9996 418-527-9996 Conporec inc. Alain Landry Executive
Vice-president and Chief financial officer 418-527-9996, ext. 223
www.conporec.com HKDP Communications and public affairs Frederic
Tremblay 514-395-0375 - ext. 234
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