Empire Industries Reports Third Quarter 2015 Results

WINNIPEG, MANITOBA--(Marketwired - Nov. 26, 2015) - Empire Industries Ltd. (TSX VENTURE:EIL) ("Empire" or the "Company") today reported its unaudited consolidated financial results for the quarter ended September 30, 2015. The unaudited consolidated financial statements and MD&A have been filed on SEDAR and can be viewed at www.sedar.com or at www.empind.com.

Summary of the Third Quarter 2015 results

• Revenues increased by $5.3 million, or 14% (to $42.1 million from $36.8 million in the third quarter 2014)
• Adjusted EBITDA decreased by $0.3 million, or 13% (to $2.0 million from $2.3 million in the third quarter 2014)
• Net Income increased by $0.3 million, or 43% (to $1.0 million from $0.7 million in the third quarter 2014)

For the quarter and nine month periods ended Sept 30
($ millions except per share amounts)		Q3 2015	Q3 2014	YTD 2015	YTD 2014
Financial Results
	Revenue	42.1	36.8	112.6	105.3
	Adjusted EBITDA ($)1	2.0	2.3	5.0	6.2
	Adjusted EBIT ($)1	1.5	1.8	3.7	5.0
	Net income from all operations	1.0	0.7	1.0	3.6
Financial Position (at Sept 30)
	Total assets			84.0	62.7
	Long-term debt (including current portion)			2.5	3.1
	Shareholders' equity			23.3	19.1
Adjusted EBITDA per share
	Basic	0.008	0.009	0.019	0.024
	Diluted	0.008	0.008	0.018	0.021
Net Income per share
	Basic	0.004	0.003	0.004	0.015
	Diluted	0.004	0.003	0.004	0.015

¹ Adjusted earnings (loss) before interest, tax, depreciation and amortization (Adjusted EBITDA) is not defined by IFRS. The definition of Adjusted EBITDA does not take into account the Group's share of profit of an associate investment, gains and losses on the disposal of assets, fair value changes in foreign currency forward contracts and non-cash components of stock based compensation. Adjusted EBIT is the result of the Group's Adjusted EBITDA less depreciation and amortization expenses. While not IFRS measures, Adjusted EBITDA and Adjusted EBIT are used by management, creditors, analysts, investors and other financial stakeholders to assess the Group's performance and management from a financial and operational perspective.