Edition:
United States

Intertape Polymer Group Inc (ITP.TO)

ITP.TO on Toronto Stock Exchange

25.08CAD
21 Jul 2017
Change (% chg)

-- (--)
Prev Close
$25.08
Open
--
Day's High
--
Day's Low
--
Volume
--
Avg. Vol
116,399
52-wk High
$25.74
52-wk Low
$20.06

Latest Key Developments (Source: Significant Developments)

Intertape Polymer group announces renewal of normal course issuer bid
Thursday, 13 Jul 2017 08:00am EDT 

July 13 (Reuters) - Intertape Polymer Group Inc :Intertape Polymer Group announces renewal of normal course issuer bid.Under renewed NCIB, company will be entitled to repurchase for cancellation up to 4 million common shares.During twelve months ended June 30, 2017, company did not repurchase any shares pursuant to its NCIB.  Full Article

Intertape Polymer enters strategic partnership through Capstone
Thursday, 15 Jun 2017 08:00am EDT 

June 15 (Reuters) - Intertape Polymer Group Inc ::Intertape Polymer Group (IPG(R)) enters strategic partnership through Capstone(R).Agreement to acquire a majority stake in Capstone Polyweave Private Limited, a enterprise in India.Agreed to ultimately acquire a minimum of a 55% interest in capstone for a cash consideration of approximately $13 million.Majority of cash consideration of about $13 million is intended to be used by Capstone to partially finance construction of Greenfield manufacturing facility.Cash consideration of about $13 million will be financed with funds from IPG's revolving credit facility.Payments from co will be made in several tranches over a period of approximately six to twelve months.Construction of Greenfield facility is planned to begin in 2017 with commercial operations expected to commence in first half of 2019.Greenfield manufacturing facility is expected to cost approximately $30 million.  Full Article

Intertape Polymer Group enters agreement to acquire Cantech and increases borrowing capacity by $150 mln
Monday, 12 Jun 2017 08:00am EDT 

June 12 (Reuters) - Intertape Polymer Group Inc :Intertape Polymer Group (ipg(r)) enters agreement to acquire cantech(r) and increases borrowing capacity by $150 million.Intertape Polymer Group Inc - purchase price will be financed with funds available under ipg's revolving credit facility.Intertape Polymer Group Inc - announced a $150 million increase in borrowing limit of its existing $300 million revolving credit facility.Intertape Polymer Group Inc - purchase price of approximately $63 million.Intertape Polymer Group Inc - amended credit agreement will continue to include an incremental accordion feature of $150 million.Intertape Polymer Group - expects to use additional credit primarily to finance cantech acquisition.  Full Article

Intertape Polymer Group reports 2017 first quarter results
Tuesday, 9 May 2017 08:00am EDT 

May 9 (Reuters) - Intertape Polymer Group Inc : :Intertape Polymer Group reports 2017 first quarter results.Q1 revenue $207.1 million versus I/B/E/S view $206.9 million.Company expects gross margin for 2017 to be between 23pct and 24pct.Adjusted EBITDA for 2017 is expected to be between $127 and $137 million.Total capital expenditures for 2017 are expected to be between $75 and $85 million.Company expects revenue in Q2 of 2017 to be greater than in Q2 of 2016.Qtrly diluted eps attributable to company shareholders $0.22.  Full Article

INTERTAPE POLYMER GROUP Q1 EARNINGS PER SHARE $0.22
Tuesday, 9 May 2017 08:00am EDT 

May 9 (Reuters) - Intertape Polymer Group Inc :INTERTAPE POLYMER GROUP REPORTS 2017 FIRST QUARTER RESULTS.Q1 REVENUE $207.1 MILLION VERSUS I/B/E/S VIEW $206.9 MILLION.TOTAL CAPITAL EXPENDITURES FOR 2017 ARE EXPECTED TO BE BETWEEN $75 AND $85 MILLION.COMPANY EXPECTS GROSS MARGIN FOR 2017 TO BE BETWEEN 23% AND 24%.ADJUSTED EBITDA FOR 2017 IS EXPECTED TO BE BETWEEN $127 AND $137 MILLION.COMPANY EXPECTS REVENUE IN Q2 OF 2017 TO BE GREATER THAN IN Q2 OF 2016.EXPECTS GROSS MARGIN AND ADJUSTED EBITDA IN Q2 OF 2017 TO BE LOWER THAN IN Q2 OF 2016.QTRLY EARNINGS PER SHARE $0.22.MANUFACTURING COST REDUCTIONS FOR 2017 ARE EXPECTED TO BE BETWEEN $10 AND $12 MILLION.Q1 EARNINGS PER SHARE VIEW $0.24 -- THOMSON REUTERS I/B/E/S.  Full Article

Intertape Polymer Group reports Q4 revenue of $209.9 mln
Thursday, 9 Mar 2017 08:00am EST 

Intertape Polymer Group Inc : Intertape Polymer Group reports 2016 fourth quarter and annual results . Intertape Polymer Group Inc - Qtrly revenue increased 7.3% to $209.9 million . Intertape Polymer Group Inc- For 2017, we expect capital expenditures of $75 to $85 million . Intertape Polymer Group Inc- Expects gross margin for 2017 to be between 23% and 24% . Intertape Polymer Group Inc- Expects adjusted EBITDA for 2017 is expected to be between $127 and $137 million . Intertape Polymer Group Inc- Revenue, gross margin and adjusted EBITDA in Q1 of 2017 are expected to be greater than in Q1 of 2016 . Intertape Polymer Group Inc- Revenue, gross margin and adjusted EBITDA in Q1 of 2017 are expected to be greater than in Q1 of 2016 .Intertape Polymer Group Inc - Qtrly earnings per share attributable to company shareholders $0.36.  Full Article

Intertape Polymer Group issues amended adjusted EPS
Wednesday, 1 Mar 2017 07:30am EST 

Intertape Polymer Group Inc : Intertape Polymer Group issues amended adjusted net earnings and adjusted eps (non-gaap financial measures) and confirms 2016 fourth quarter and annual guidance attainment . Intertape Polymer Group Inc - amendments made as a result of a clerical error in calculation of income tax effect of adjustments made . Intertape Polymer Group Inc - confirming that its Q4 and annual results are in line with previously stated outlook .Intertape Polymer-revisions have no impact on audited consolidated financial statements and unaudited interim condensed consolidated financial statements.  Full Article

Intertape Polymer Group reports 2016 third quarter results
Friday, 11 Nov 2016 08:00am EST 

Intertape Polymer Group Inc : Intertape Polymer Group reports 2016 third quarter results . Expects gross margin for 2016 to be between 23% and 24%, excluding impact of South Carolina flood . Total capital expenditures for 2016 are expected to be between $55 and $65 million . Expects revenue, gross margin and adjusted ebitda to be greater in Q4 of 2016 than in Q4 of 2015 . Adjusted EBITDA for 2016 is expected to be $117 to $123 million, excluding impact of South Carolina flood . Qtrly earnings per share $0.10 . Q3 earnings per share view $0.26, revenue view $208.4 million -- Thomson Reuters I/B/E/S .Q3 revenue $206.6 million versus I/B/E/S view $208.4 million.  Full Article

Intertape Polymer Group agrees to buy majority ownership of Powerband
Friday, 2 Sep 2016 08:00am EDT 

Intertape Polymer Group Inc: Intertape Polymer Group enters agreement to acquire majority ownership of Powerband . Purchase price of approximately $42 million . Intertape Polymer Group says company expects that these acquired operations will be accretive to net earnings . Execution of an agreement to acquire a 74% ownership stake in Powerband Industries Private Limited . Rajan desai, managing director of Powerband, will continue to manage Powerband's operations, remain significant shareholder . Powerband will remain headquartered in Daman, India . Remaining 26% will continue to be held by Desai family which founded Powerbrand .Deal will be financed with funds available under company's revolving credit facility.  Full Article

Intertape Polymer qtrly EPS $0.22
Thursday, 11 Aug 2016 08:00am EDT 

Intertape Polymer Group Inc : Expects revenue, gross margin and adjusted ebitda excluding impact of South Carolina flood, in q3 of 2016 to be greater than in q3 of 2015. . Qtrly revenue increased 2.5% to $201.5 million . Qtrly earnings per share $0.22 . Company expects gross margin for 2016 to be between 23% and 24%. .Adjusted EBITDA for 2016 is expected to be $117 to $123 million, excluding impact of South Carolina flood..  Full Article