Immunotec Reports First Quarter Results
Sales in Mexico increased two-fold in local currency
(firmenpresse) - VAUDREUIL-DORION, QUEBEC -- (Marketwired) -- 03/27/17 -- Immunotec Inc. (TSX VENTURE: IMM), a direct-to- consumer company and leader in the nutritional industry (the "Company" or "Immunotec"), today announced its first quarter financial results for Fiscal 2017. All amounts in this press release are in Canadian dollars unless otherwise indicated.
"Our first quarter 2017 results included strong sales volume performances in major markets and a significant improvement in Adjusted EBITDA when compared to last year," said Charles Orr, Chief Executive Officer.
QUARTERLY PERFORMANCE HIGHLIGHTS
Under the leadership of Mr. Mauricio Domenzain in partnership with Nexxus Capital of Mexico, on March 22, 2017, the Company announced that it had entered into a definitive arrangement agreement with 1111267 B.C. Ltd., a subsidiary of Immuno Holding S.A. de C.V., to acquire all of the issued and outstanding common shares of the Company for a cash consideration of $0.485 per Share. "This follows a strategic review process that was initiated last year. The transaction represents an attractive value for our shareholders and an important vote of confidence for our consultants, employees and for all our other stakeholders," said Mr. Orr.
About Immunotec Inc.
Immunotec is a Canadian-based company that develops, manufactures, markets and sells research-driven nutritional products through direct-to-consumer sales channels in Canada, the U.S., Mexico, the Dominican Republic, the United Kingdom and Ireland. The Company offers an extensive family of nutritional, skin care and wellness products targeting health, weight management, energy and physical performance.
Please visit us at for additional information.
The Company files its continuous disclosure documents, inclusive of its year end results, on the SEDAR database at and on the Company''s website at . The common shares of the Company are listed on the TSX Venture Exchange under the ticker symbol IMM. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This Press Release should be read in conjunction with the Company''s most recent unaudited interim condensed consolidated financial statements and the Management discussion and analysis which can be found at
CAUTION REGARDING FORWARD-LOOKING STATEMENTS:
Certain statements contained in this news release are forward looking and are subject to numerous risks and uncertainties, known and unknown. For information identifying known risks and uncertainties and other important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the heading Risks and Uncertainties in Immunotec''s most recent Management''s Discussion, which can be found at . Consequently, actual results may differ materially from the anticipated results expressed in these forward-looking statements.
NON-GAAP MEASURES:
This Press Release contains non-GAAP measures which do not have a standardized meaning under International Financial Reporting Standards ("IFRS"). We use earnings before interest, taxes, depreciation and amortization ("EBITDA"), as this measure allows management to evaluate the operational performance of the Company. EBITDA does not have any standardized meaning prescribed by IFRS and is therefore unlikely to be comparable to similar measures presented by other issuers. EBITDA should not be considered an alternative to profit (loss) in measuring the Company''s performance, nor should it be used as an exclusive measure of cash flow. This measure does not represent the funds available for the repayment of debt, the payment of dividends, reinvestment or other discretionary uses, and should not be considered in isolation or as substitutes for other measures of performance calculated according to IFRS.
Adjusted EBITDA and Sponsoring
(1) Refer to the "NON-GAAP MEASURES" section. The definition of Sponsoring and the Adjusted EBITDA reconciliation to Net profit is shown below.
Contacts:
Immunotec Inc.
Patrick Montpetit, CPA, CA, CF
Vice-President and Chief Financial Officer
(450) 510-4527
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Datum: 27.03.2017 - 16:21 Uhr
Sprache: Deutsch
News-ID 1495032
Anzahl Zeichen: 2698
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VAUDREUIL-DORION, QUEBEC
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Kategorie:
Health & Nutrition
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