Logistec Announces Financial Results for the First Quarter of 2012
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwire) -- 05/09/12 -- Logistec Corporation (TSX: LGT.A)(TSX: LGT.B), a marine and environmental services provider, today announced its financial results for the first quarter ended March 31, 2012.
During the first quarter of 2012, consolidated revenue totalled $44.4 million, an increase of $3.4 million or 8.2% over the equivalent period of the previous year. The marine services segment's revenue was stable at $30.6 million whereas the environmental services segment's revenue amounted to $13.8 million, up by $3.2 million over the first quarter of 2011, as a result of increased site remediation activity and improved sales of woven hoses. The first quarter of 2012 closed with a consolidated loss attributable to owners of the Company of $1.1 million, compared with a profit of $0.1 million for the first quarter of 2011. The loss attributable to owners of the Company translated into a total basic and diluted loss per share of $(0.17), of which $(0.16) is attributable to Class A Common Shares and $(0.18) to Class B Subordinate Voting Shares.
Outlook
"The first quarter always attests to the seasonal nature of our marine and environmental services segments in that winter temperatures slow down our business and therefore affect our profitability. However, experience has shown that these results are not a reliable indicator of our performance in upcoming quarters. In an economic context that remains uncertain, we continue to capitalize on relatively stable container volumes, on reinforcing biomass handling operations at our Brunswick (GA) terminal, as well as on the solid positioning of our cargo-handling and shipping activities in connection with Quebec's Plan Nord. Furthermore, our subsidiary Sanexen benefits from a strong order backlog for its site remediation services. Finally, we also look forward to growing demand for Aqua-Pipe® technology related services, as municipalities are expected to resume their capital spending on aging water main networks," indicated Madeleine Paquin, President and Chief Executive Officer of Logistec Corporation.
About Logistec
Logistec Corporation is based in Montreal (QC) and provides specialized services to the marine community and industrial companies in the areas of bulk, break-bulk and container cargo handling in 23 ports in Eastern Canada, the Great Lakes and the U.S. East Coast. Logistec also offers marine transportation services geared primarily to the Arctic coastal trade, short-line rail transportation services, as well as marine agency services to foreign shipowners and operators serving the Canadian market. Furthermore, the Company operates in the environmental sector where it provides services to industrial companies and municipalities for the trenchless structural rehabilitation of underground water mains, PCB management, site remediation, risk assessment, and woven-hose manufacturing.
The Company has been profitable and has paid regular dividends since becoming public and payments have grown steadily over the years. A public company since 1969, Logistec's shares are listed on the Toronto Stock Exchange under the ticker symbols LGT.A and LGT.B. More information can be obtained at the Company's website at .
Forward-Looking Statements
For the purpose of informing shareholders and potential investors about the Company's prospects, sections of this document may contain forward-looking statements, within the meaning of securities legislation, about the Company's activities, performance and financial situation and, in particular, hopes for the success of the Company's efforts in the development and growth of its business. These forward-looking statements express, as of the date of this document, the estimates, predictions, projections, expectations or opinions of the Company about future events or results. Although the Company believes that the expectations produced by these forward-looking statements are founded on valid and reasonable bases and assumptions, these forward-looking statements are inherently subject to important uncertainties and contingencies, many of which are beyond the Company's control, such that the Company's performance may differ significantly from the predicted performance expressed or presented in such forward-looking statements. The important risks and uncertainties that may cause the actual results and future events to differ significantly from the expectations currently expressed are examined under "Business Risks" in the Company's annual report and include (but are not limited to) the performances of domestic and international economies and their effect on shipping volumes, weather conditions, labour relations, pricing and competitors' marketing activities. The reader of this document is thus cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to update or revise these forward-looking statements, except as required by law.
Additional information relating to our Company can be found on SEDAR's website at and on Logistec's website at .
Condensed Consolidated Interim Statements of Earnings
Condensed Consolidated Interim Statements of Comprehensive Income
Condensed Consolidated Interim Statements of Financial Position
Condensed Consolidated Interim Statements of Changes in Equity
Condensed Consolidated Interim Statements of Cash Flows
Contacts:
Jean-Claude Dugas CA
Vice-President, Finance
Logistec Corporation
(514) 985-2345
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Datum: 09.05.2012 - 15:52 Uhr
Sprache: Deutsch
News-ID 1112696
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