Inventronics Announces 2020 Q3 Financial Results

CALGARY, Alberta, Nov. 26, 2020 (GLOBE NEWSWIRE) -- Inventronics Limited (“Inventronics” or the “Corporation”) (IVX:TSX Venture), a designer and manufacturer of custom enclosures for the telecommunications, electric transmission, cable television and other industries in North America, today announced its unaudited 2020 Q3 financial results.

For the three months ended September 30, 2020, Inventronics reported net earnings of $284,000, or 6.5 cents per share, on revenue of $2,050,000 compared to net earnings of $192,000, or 4.4 cents per share, on revenue of $1,898,000 for the three months ended September 30, 2019.   For the nine months ended September 30, 2020, Inventronics reported net earnings of $699,000, or 15.9 cents per share, on revenue of $4,685,000 compared to net earnings of $346,000, or 7.9 cents per share, on revenue of $4,708,000 for the nine months ended September 30, 2019. The improvement in net earnings for both the three and nine month periods of 2020 were positively impacted by the government support received through the Canada Emergency Wage Subsidy program, which amounted to $73,000 and $363,000, respectively.

Selected Financial Information
Income Highlights	Three months ended		Nine months ended
(in thousands of dollars, except per share amounts)	Sept 30	Sept 30	Sept 30	Sept 30
	2020	2019	2019	2019
Revenue	2,050	1,898	4,685	4,708
EBITDA	344	261	887	538
Net earnings	284	192	699	346
Basic earnings per share	6.5¢	4.4¢	15.9¢	7.9¢