Year end results out Nine month before tax earnings of 449k
12 month before tax earnings of 381k
So a before tax LOSS in Q4 of 68k
Nordex Explosives Announces Record Revenues and Net Profit of $475,350 in 2012
KIRKLAND LAKE, ONTARIO--(Marketwired - April 22, 2013) - NORDEX EXPLOSIVES LTD. (TSX VENTURE:NXX) ("Nordex") has released its audited financial statements for the 2012 fiscal period and is pleased to announce its highest annual sales revenues in the 42 year history of the Company, with a net profit during fiscal 2012 of $475,350. Record sales revenues are attributed to securing new business in the construction and quarry industries and maintaining or increasing business with Nordex' existing customers.
Highlights from the 2012 audited financial statements include:
Total annual revenues for fiscal 2012 were $14,951,509, which represented an increase of $3,455,238, or 30%, over same period revenues during 2011 of $11,496,271.
Gross profit for fiscal 2012 increased by $506,477, or 23%, over same period gross profit of $2,249,288 realized during 2011.
Net income after tax for fiscal 2012 increased by $681,178 over same period annual net loss after tax during fiscal 2011 of ($205,828).
Earnings per share for the 2012 fiscal year increased to $0.05 per share compared to a loss per share in 2011 of ($0.03).
Fourth Quarter 2012 Results:
Total revenues for the 4th quarter of 2012 of $4,083,588 represented an increase of $1,307,913, or 47%, over same period revenues of $2,775,675 during the 4th quarter of 2011.
Jim Taylor, President & CEO, stated, "We are pleased with the increasing momentum Nordex has experienced in the last four quarters. The market reaction and wide acceptance of our proprietary line of bulk and packaged emulsion products has been instrumental in our growth. We are dedicated to increasing business in the construction markets and are making great progress in the Muskoka Region with our newly operational satellite site. We continue to work aggressively to maintain our reputation as a supplier of superior products while providing the highest levels of service in the explosives industry in Canada. We are very proud of the fact Nordex is truly a Canadian company manufacturing products in Canada for the benefit of Canadians. "