Dynamic Technologies Group Inc - Class A ERILF

RE:RE:RE:End of day

[toto3321]

They were posted on Sedar today, here are some of the info: 

FINANCIAL HIGHLIGHTS • Net Income nearly tripled, increasing $2.6 million to $4.0 million, up from $1.4 million in 2015. The gain on the sale of Tornado Hydrovacs, use of our tax losses and gains on foreign exchange were the main contributors to this improvement. • Per Share Net Income was $0.06 in 2016, up from $0.02 in 2015. • Revenues decreased to $118.0 million, down 10.1% from $131.2 million in 2015. The decrease was driven by reduced revenues in the Steel Fabrication division. In early 2017, we have ceased pursuing third party steel fabrication opportunities in our Edmonton location. Empire has re-deployed those assets to the company’s Attractions division, integrating and right-sizing this capacity with our steel fabrication capacity in Port Coquitlam. • Contract backlog as of Dec 31, 2016 was $109 million, down from $130 million a year earlier. Despite the decline, our pipeline of proposals has never been larger and more robust. Management has confidence in growing the backlog in the future. • Total Shareholders’ Equity reduced by $3.5 million. This was the net amount of the dividend of Tornado Hydrovac (Manufactured Products division) to all Empire shareholders. • Working capital was strengthened during the year by the addition of USD $10 million of subordinate financing from Export Development Canada. BUSINESS UNITS UPDATE ATTRACTIONS In May 2016, Dynamic Attractions opened their 80,000 square foot ‘Attractions Development Center’ in Orlando, Florida. Not only does the location dramatically strengthen our relationship with key clients, but the facility’s ‘experience studio’ provides us with advantageous opportunities to showcase to, and collaborate with, the major theme parks. It was a record-breaking year in terms of grand openings of our projects: 10 Dynamic Attractions rides opened. These are extremely complex, multi-year projects; the locations for these attractions span 4 continents. This successful milestone demonstrates our ability to simultaneously execute impressive project management on multiple fronts. This year we introduced a new product: The Dynamic Motion Theater. It was proclaimed the ‘2016 Best New Attraction’ by the International Attractions and Amusement Parks Association (IAAPA). TELESCOPES Empire’s Dynamic Structures business was officially awarded the final design contract for the Thirty Meter Telescope (TMT) enclosure in August 2016. Our engineers in Port Coquitlam are continuing their work on this $10 million, 20-month project throughout 2017.