CALGARY, Alberta, March 27, 2025 (GLOBE NEWSWIRE) -- Inventronics Limited ("Corporation") (IVX:TSX Venture), a designer and manufacturer of enclosures for the telecommunication, cable, electric distribution, energy, and other industries in North America, today announced its 2024 audited annual and unaudited 2024 Q4 financial results.
For the year ended December 31, 2024, the Corporation reported a net loss of $62,000, or 1.3 cents per share, on revenue of $6,309,000 compared to net earnings of $369,000, or 7.6 cents per share, on revenue of $8,859,000 for the 2023 fiscal year. For the three months ended December 31, 2024, the Corporation reported a net loss of $242,000, or 5.0 cents per share, on revenue of $1,304,000 compared to a net loss of $207,000, or 4.2 cents per share, on revenue of $959,000, for the same period in 2023.
| Income Highlights | Three months ended | Twelve months ended | |||||||
| (in thousands of dollars, except per share amounts) | Dec 31 2024 | Dec 31 2023 | Dec 31 2024 | Dec 31 2023 | |||||
| Revenue | 1,304 | 959 | 6,309 | 8,859 | |||||
| Net earnings (loss) | (242 | ) | (207 | ) | (62 | ) | 369 | ||
| Basic earnings (loss) per share | (5.0) | ¢ | (4.2) | ¢ | (1.3) | ¢ | 7.6¢ | ||
| Statement of Financial Position Highlights | |||
| (in thousands of dollars) As at | Dec 31 2024 | Dec 31 2023 | |
| Working capital | 1,536 | 2,253 | |
| Property, plant and equipment | 3,244 | 3,234 | |
| Long-term debt, excluding current portion | 2,250 | 2,437 | |
| Shareholders' equity | 2,267 | 2,814 |
Further information about the financial results of the Corporation can be found in the Corporation's audited financial statements for the year ended December 31, 2024 and accompanying management's discussion and analysis, which have been filed on SEDAR+ at www.sedarplus.ca.
About Inventronics
Inventronics Limited designs and manufactures enclosures and other products for an array of customers in the telecommunication, cable, electric distribution, energy, and other industries in North America. The Corporation owns its ISO 9001-registered production facility in Brandon, Manitoba. Shares of Inventronics trade on the TSX Venture Exchange under the symbol "IVX." For more information about the Corporation, its products and its services, go to www.inventronics.com.
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