Toromont Announces Results for the Second Quarter of 2017 and Quarterly Dividend
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 07/25/17 -- Toromont Industries Ltd. (TSX: TIH) reported its financial results for the second quarter ended June 30, 2017.
"Increased demand in mining and power systems is reflected in the strength of bookings and backlog," said Scott J. Medhurst, President and Chief Executive Officer of Toromont Industries Ltd. "CIMCO delivered strong results on product support growth and excellent execution both in Canada and the US."
Highlights:
"The long-term outlook for infrastructure spending remains positive from both the provincial and federal governments. In the meantime, we have seen increased activity in the mining and power systems sectors. Performance at CIMCO continues to be positive and represents the emerging realization of focused strategies," continued Mr. Medhurst. "Growth in bookings and backlog across our organization, together with the long-term product support growth trends and the diversity of markets served provide opportunities for continued success."
Quarterly Results Materials
The complete second quarter report for 2017, including MD&A and unaudited interim condensed consolidated financial statements, is available on our website at .
Quarterly Conference Call and Webcast
Interested parties are invited to join the quarterly conference call with investment analysts, in listen-only mode, on Wednesday, July 26, 2017 at 8:00 a.m. (ET). The call may be accessed by telephone at 1-800-377-0758 (toll free) or 416-340-2218 (Toronto area). A replay of the conference call will be available until midnight, Wednesday, July 28, 2017, by calling 1-800-408-3053 (toll free) or 905-694-9451 (Toronto area) and entering passcode 4935231#.
Both the live webcast and the replay of the quarterly conference call can be accessed at .
Advisory
Information in this press release that is not a historical fact is "forward-looking information". Words such as "plans", "intends", "outlook", "expects", "anticipates", "estimates", "believes", "likely", "should", "could", "will", "may" and similar expressions are intended to identify statements containing forward-looking information. Forward-looking information in this press release is based on current objectives, strategies, expectations and assumptions which management considers appropriate and reasonable at the time including, but not limited to, general economic and industry growth rates, commodity prices, currency exchange and interest rates, competitive intensity and shareholder and regulatory approvals.
By its nature, forward-looking information is subject to risks and uncertainties which may be beyond the ability of Toromont to control or predict. The actual results, performance or achievements of Toromont could differ materially from those expressed or implied by forward-looking information. Factors that could cause actual results, performance, achievements or events to differ from current expectations include, among others, risks and uncertainties related to: business cycles, including general economic conditions in the countries in which Toromont operates; commodity price changes, including changes in the price of precious and base metals; changes in foreign exchange rates, including the Cdn$/US$ exchange rate; the termination of distribution or original equipment manufacturer agreements; equipment product acceptance and availability of supply; increased competition; credit of third parties; additional costs associated with warranties and maintenance contracts; changes in interest rates; the availability of financing; and, environmental regulation.
Any of the above mentioned risks and uncertainties could cause or contribute to actual results that are materially different from those expressed or implied in the forward-looking information and statements included in this press release. For a further description of certain risks and uncertainties and other factors that could cause or contribute to actual results that are materially different, see the risks and uncertainties set out in the "Risks and Risk Management" and "Outlook" sections of Toromont''s most recent annual or interim Management Discussion and Analysis, as filed with Canadian securities regulators at or at . Other factors, risks and uncertainties not presently known to Toromont or that Toromont currently believes are not material could also cause actual results or events to differ materially from those expressed or implied by statements containing forward-looking information.
Readers are cautioned not to place undue reliance on statements containing forward-looking information that are included in this press release, which are made as of the date of this press release, and not to use such information for anything other than their intended purpose. Toromont disclaims any obligation or intention to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
About Toromont
Toromont Industries Ltd. operates through two business segments: the Equipment Group and CIMCO. The Equipment Group includes one of the larger Caterpillar dealerships by revenue and geographic territory in addition to industry leading rental operations and an expanding agricultural equipment business. CIMCO is a market leader in the design, engineering, fabrication and installation of industrial and recreational refrigeration systems. Both segments offer comprehensive product support capabilities. This press release and more information about Toromont Industries Ltd. can be found at .
FOOTNOTES
(1) These financial metrics do not have a standardized meaning under International Financial Reporting Standards, which are also referred to herein as Generally Accepted Accounting Principles (GAAP), and may not be comparable to similar measures used by other issuers. The Company''s Management''s Discussion and Analysis (MD&A) includes additional information regarding these financial metrics, including definitions, under the sections titled "Additional GAAP Measures and Non-GAAP Measures."
Contacts:
Scott J. Medhurst
President and Chief Executive Officer
Toromont Industries Ltd.
(416) 667-5588
Paul R. Jewer
Executive Vice President and Chief Financial Officer
Toromont Industries Ltd.
(416) 514-4790
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Datum: 25.07.2017 - 14:59 Uhr
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