|By Marketwired .||
|March 11, 2014 09:15 PM EDT||
CALGARY, ALBERTA -- (Marketwired) -- 03/12/14 -- PFB Corporation (TSX:PFB) reports its financial results for the year ended December 31, 2013.
Results for Year Ended December 31, 2013
Consolidated net income of $6,832,000, basic earnings per share of $1.02, was reported for the year ended December 31, 2013, as compared to consolidated net income of $130,000, basic earnings per share of $0.02, in the year ended December 31, 2012. Consolidated net income for 2013 was inclusive of an after tax gain in the amount of $5,988,000 which was realized on the sale of four properties as part of a sale and leasing transaction completed in the first quarter of the year. Excluding the effects of the after tax gain, the Corporation would have reported net income of $844,000 in the current year, equivalent to earnings per share of $0.13.
Consolidated sales for the year ended December 31, 2013 of $84,549,000 increased from $82,078,000 in the prior year, an increase of $2,471,000 or 3.0%.
In the three month period ended December 31, 2013, consolidated net income was $460,000, basic earnings per share of $0.07, as compared to a consolidated loss of $176,000, basic loss per share of $0.03 per share, reported in the comparative three month period of 2012. This represents an improvement in consolidated net income of $636,000, equivalent to an improvement of $0.10 per share. Consolidated sales in the fourth quarter of 2013 were $21,140,000, an increase of $3,638,000 or 20.8% as compared to sales of $17,502,000 reported in the comparative quarter of 2012.
PFB Corporation is a vertically integrated manufacturer of insulating building products that are marketed across North America under five brands. Plasti-Fab® EPS Product Solutions® are products, manufactured using expanded polystyrene (EPS) as base raw materials, that are delivered to customers in five segmented markets. Advantage ICF Systems® are insulating concrete forming systems that are employed to build insulated foundations and walls from concrete in both residential and commercial markets. Insulspan® Structural Insulating Panels Systems (SIPS) are used to create structural walls and to replace trusses on roof systems to form an energy-efficient structural envelope. PFB Custom Homes Group includes Riverbend® Timber Framing, PrecisionCraft® Log &Timber Homes, Point Zero Homes(TM) and M.T.N Architects(SM). Each brand provides clients with our exclusive Total Home Solution® for building custom homes in the US, Canada and internationally that can include Insulspan SIPS for the walls and roof, and Advantage ICFS for the building's foundations.
PFB Corporation is listed for trading on the Toronto Stock Exchange, symbol PFB.
PFB Corporation's audited consolidated financial statements and annual MD&A for the years ended December 31, 2013 and 2012 will be posted on SEDAR (www.sedar.com) on or before March 31, 2014.
Stephen P. Hardy
Vice President & CFO
403 569 4075 (FAX)
#100, 2886 Sunridge Way NE
Calgary, Alberta T1Y 7H9
In today's uber-connected, consumer-centric, cloud-enabled, insights-driven, multi-device, global world, the focus of solutions has shifted from the product that is sold to the person who is buying the product or service. Enterprises have rebranded their business around the consumers of their products. The buyer is the person and the focus is not on the offering. The person is connected through multiple devices, wearables, at home, on the road, and in multiple locations, sometimes simultaneously...
Jul. 31, 2016 01:30 AM EDT Reads: 989
Jul. 31, 2016 12:45 AM EDT Reads: 2,041
Jul. 30, 2016 11:30 PM EDT Reads: 1,339
Jul. 30, 2016 10:30 PM EDT Reads: 1,944
Jul. 30, 2016 09:45 PM EDT Reads: 1,497
Jul. 30, 2016 09:45 PM EDT Reads: 1,321
Jul. 30, 2016 09:30 PM EDT Reads: 1,533
Jul. 30, 2016 07:30 PM EDT Reads: 1,768
Jul. 30, 2016 07:30 PM EDT Reads: 1,320
Jul. 30, 2016 07:00 PM EDT Reads: 2,777
Jul. 30, 2016 05:00 PM EDT Reads: 1,311
Jul. 30, 2016 04:30 PM EDT Reads: 588
Jul. 30, 2016 04:30 PM EDT Reads: 1,128
Jul. 30, 2016 04:30 PM EDT Reads: 2,283
Jul. 30, 2016 04:15 PM EDT Reads: 661