Conporec Inc./2007 Annual Results : Net Profit of $2,6M
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SOREL-TRACY, QUEBEC, Mar 31 (MARKET WIRE) --
Conporec Inc. ("Conporec" or the "Company") (TSX VENTURE:
CNP)(ALTERNEXT: ALCNX) announces today its results for the year ending on
December 31, 2007. The Company has generated revenues of $7,6M for the
twelve months period of 2007 with a net profit of $2,6M compared to
revenues of $8,0M and a net loss of $4,5M for the same period of 2006.
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CA$M 2007 2006
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Turnover 7,6 8,0
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Gross Margin 1,1 1,3
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Net Results 2,6 -4,5
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Shareholders' Equity 13,4 1,8
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The year was highlighted by the debt restructuring resulting in a net
positive impact of $6,9M in the first quarter and by the acquisition and
construction work done at the La Prade Industrial Park (Becancour Ca)
worth $4,4M in the second quarter. Conporec has also put significant
emphasis on securing waste supply contracts for its current and upcoming
operating facilities in the following quarters.
The project development team has focused its efforts on submitting six
tenders or qualification documents in France, Ontario and Quebec. As
well, the negotiations related to the contract with Mindarie Regional
Council (Australia) have led last October 25th to the announcement of the
imminent construction of the new plant. Finally, the Company was proud to
announce during the year, that the Bureau de normalisation du Quebec
(BNQ) issued a certification for the compost produced at its Sorel-Tracy
facility, a first in Quebec and in Canada.
Revenues of $7,6M represent a 5,6% decrease compared with the $8,0M
revenues for the same period of 2006. Gross margin in 2007 were at $1,1M
or 14% of revenues compared to gross margin of $1,3M or 17% in 2006. This
reduction is mainly due to the temporary suspension of construction
activities at the Tournan-en-Brie (Fr) project. Sales and administration
costs were maintained at $4,4M and are in line with the efforts to
increase market share by promoting the Company technology.
The net profit for the period is at $2,6M or $0.21 per common share,
fully diluted, compared to a net loss of $4,5M or ($0.77) per common
share in 2006. The net profit of 2007 includes the debts and debentures
write-off. The shareholders' equity for December 31st, is $13,4M compared
to $1,8M for the same date in 2006.
"The efforts carried out throughout 2007 allow us to foresee increasingly
positive results. The imminent start of the construction of the
Australian facility as well as the optimized operations at the Becancour
and Sorel-Tracy facilities, should allow Conporec to reach its objectives
and continue with the implementation of its business plan", stated CEO
Jean Beaudoin.
In addition, due to the greater maturity of the Company which will
require an increased involvement of its directors, and because of their
current occupation, MM. Jacques Putzeys and Jean-Marie Santander
presented their resignation to the board of directors. The members of the
Board express their sincere appreciation for their contribution. The
vacant positions will be replaced soon.
About Conporec
Conporec inc. develops, owns and operates various patented technologies
for the treatment and the recycling of residues into valuable resources
and energy. The company successfully delivered or is in the process of
completing plants in Canada, France, United States and Australia.
Conporec is a socially responsible organization listed on the Toronto
Stock Exchange (Venture) and the NYSE/Euronext in Paris (Alternext).
Forward-looking statements contained in this press release involve known
and unknown risks, uncertainties or other factors that may cause actual
results, performance or achievements of the company to be materially
different from any future results, performance or achievements expressed
or implied by such forward-looking statements.
TSX Venture Exchange has not
approved the information contained herein and accepts no responsibility
for it, nor the validity of the operation planned.
Contacts:
Conporec Inc.
Jean Beaudoin
President and CEO
450-746-9996
418-527-9996
Conporec inc.
Alain Landry
Executive Vice-president and Chief financial officer
418-527-9996, ext. 223
www.conporec.com
HKDP Communications and public affairs
Frederic Tremblay
514-395-0375 - ext. 234
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