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     118  0 Kommentare IBEX Reports Results for the First Quarter Ended October 31, 2019 - Seite 2


    Financial Summary for the three months ended
      October 31,
    2019
    October 31,
    2018
    Revenues $1,078,740   $1,039,473
    Earnings (loss) before interest, tax, depreciation & amortization (EBITDA) $170,601   ($137,535)
    Depreciation of property, plant, equipment and intangible assets $58,439   $71,167
    Depreciation of right-of-use assets $42,212   -
    Net earnings (loss) $64,463   ($208,741)
    Earnings (loss) per share $0.00   ($0.01)

    Cash and cash equivalents decreased by $80,317 during the three months ended October 31, 2019 as compared to the year ended July 31, 2019. Net working capital decreased by $58,177 during the three months ended October 31, 2019 as compared to the year ended July 31, 2019.                                

     
    Balance Sheet Summary as at
      October 31,
    2019
    July 31,
    2019
    Cash and cash equivalents $2,499,542   $2,579,859
    Net working capital $2,779,996   $2,838,173
    Outstanding shares at report date (common shares) 24,773,244   24,773,244
           

    LOOKING FORWARD   

    As always, the future financial results of the Company are difficult to predict as the Company’s customers have significant variations in their purchasing patterns.

    We expect to see revenues in Fiscal 2020 to be roughly equivalent with Fiscal 2019, however, with the closure of the Iowa facility, there will be a substantial reduction in expenses, and we are projecting a small positive EBITDA for the year.

    ABOUT IBEX

    IBEX manufactures and markets proteins for biomedical use through its wholly owned subsidiary IBEX Pharmaceuticals Inc. (Montréal, QC). IBEX Pharmaceuticals also manufactures and markets a series of arthritis assays which are widely used in osteoarthritis research.

    For more information, please visit the Company’s website at www.ibex.ca.

    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.

    Safe Harbor Statement

    All of the statements contained in this news release, other than statements of fact that are independently verifiable at the date hereof, are forward-looking statements. Such statements, as they are based on the current assessment or expectations of management, inherently involve numerous risks and uncertainties, known and unknown. Some examples of known risks are: the impact of general economic conditions, general conditions in the pharmaceutical industry, changes in the regulatory environment in the jurisdictions in which IBEX does business, stock market volatility, fluctuations in costs, and changes to the competitive environment due to consolidation or otherwise. Consequently, actual future results may differ materially from the anticipated results expressed in the forward-looking statements. IBEX disclaims any intention or obligation to update these statements, except if required by applicable laws.

    In addition to the risk factors identified above, IBEX is, and has been in the past, heavily reliant on three products and five customers, the loss of any of which could have a material effect on its profitability.

    Contact:

    Paul Baehr
    President & CEO
    IBEX Technologies Inc.
    514-344-4004 x 143

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    IBEX Reports Results for the First Quarter Ended October 31, 2019 - Seite 2 MONTRÉAL, Dec. 12, 2019 (GLOBE NEWSWIRE) - IBEX Technologies Inc. (“IBEX” or the “Company”) (TSX Venture: IBT) today reported its financial results for the three months ended October 31, 2019. “We were pleased to see that sales …