Imaflex Inc V.IFX

Strong Q2 2021 Results and Provides Business Update

[Betteryear2]

Another solid quarter with material growth in sales and profitability 

Q2 2021 Highlights

• Revenues of $27.4 million, up 31.6% over $20.8 million in 2020
• Gross profit of $4.5 million (16.5% of sales), up 23.9% from $3.6 million (17.5% of sales) in 2020
• EBITDA1 was $3.3 million, up 14.5% over $2.9 million in 2020; up 36.6% on constant currency basis
• Net income of $2.0 million ($0.04 per share2), versus $0.3 million ($0.01 per share2) in prior year
• Balance sheet remains strong, closed quarter with $4.4 million of cash ($0.09 per share2)

MONTREAL, Aug. 25, 2021 /CNW Telbec/ - Imaflex Inc. ("Imaflex" or the "Corporation") (TSXV: IFX), reports strong consolidated financial results for the second quarter (Q2) ended June 30, 2021 and provides a business update.  All amounts are in Canadian dollars.

"Imaflex continues to generate impressive top and bottom line growth," said Mr. Joe Abbandonato, President and Chief Executive Officer of Imaflex.  "We expect this positive backdrop will continue to provide a strong tailwind for us to further scale the business and we remain confident in our ability to generate meaningful profitability and cash flows going forward." 

https://www.newswire.ca/news-releases/imaflex-announces-strong-q2-2021-results-and-provides-business-update-836852875.html

[microcaphobby]

Good results. This stock is a nice long term hold with a bright outlook. As they put up more strong quarters of revenue growth tis one will move up. It reminds me of XPEL that used to be on the tsx and now on nasdaq. If the new product is the hit is should be, this one will fly.

[Possibleidiot01]

Beacon comments on the quarter from cantechletter.com By Geordie Carragher August 26, 2021 Filed under:   All posts, Analysts, Resource Tech Stock:   ifx Imaflex has still more upside, says Beacon A strong quarterly beat has Beacon Securities analyst Ahmad Shaath staying solid on