Taiga loses $1.7-million in Q3 Will they suspend note interest ,again??
Taiga loses $1.7-million in Q3
Taiga Building Products Ltd (C:TBL)
Shares Issued 32,414,278
Last Close 2/9/2012
.55
Thursday February 09 2012 - News Release
Mr. Tom Stefan reports
TAIGA BUILDING PRODUCTS LTD. ANNOUNCES STEADY THIRD QUARTER RESULTS
Taiga Building Products Ltd. has issued its quarterly results for the three months ended Dec. 31, 2011.
The company's quarterly results for the three months ended Dec. 31, 2011, are presented in accordance with international financial reporting standards (IFRS) and comparative information for the corresponding 2010 results have been restated accordingly.
Earnings results -- three months ended Dec. 31, 2011
The company's consolidated net sales for the quarter ended Dec. 31, 2011, were $203.1-million compared with $198.4-million during the same period last year, an increase of $4.7-million or 2.4 per cent. Taiga continued to see a stronger demand for its product offering into the winter season compared with the same period last year.
Gross margin for the quarter ended Dec. 31, 2011, was $18.6-million compared with $18.4-million over the same period last year. Gross margin for the quarter was 9.2 per cent compared with 9.3 per cent over the same period last year. Stronger gross margin performance trends were muted by a one-time inventory writedown of approximately $300,000.
Net loss for the quarter ended Dec. 31, 2011 was $1.7-million compared with $1.2-million for the same period last year. The net-loss increase was attributable to one-time compensation and inventory writedowns of $600,000.
EBITDA (earnings before interest, taxes, depreciation and amortization) for the quarter ended Dec. 31, 2011, was $4.4-million compared with $5.1-million for the same period last year.