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CEMATRIX Corporation Anticipates Record First Quarter Revenues and Updates Contracted Project Activity
By: Marketwired .
Jan. 24, 2013 09:25 AM
CALGARY, ALBERTA -- (Marketwire) -- 01/24/13 -- CEMATRIX Corporation (TSX VENTURE:CVX) (the "Corporation" or the "Company" or "CEMATRIX") announced today that it is forecasting that up to 70% of current contracts of $3.9 million will be completed in the first quarter of 2013. Management expectations are based on projects currently in progress and scheduled.
"This early and strong start to the year could result in a record first quarter revenues for 2013, a quarter, which is normally considered off season for CEMATRIX products because of the winter conditions" stated Jeff Kendrick, CEMATRIX President and CEO.
In comparison, the first quarter of 2012 saw the Company report approximately $0.3 million in revenues.
The Company also announced today that its wholly owned subsidiary, CEMATRIX (Canada) Inc. has received signed orders for infrastructure and oil sands projects, in the amount of $1.4 million in aggregate. It has also received notice of the cancellation of a contract in the amount of $2.0 million, which was originally scheduled for completion in 2012. If and when the deferred project goes ahead, the Company expects that the contract will be re-issued at that time. After adjustment of $0.1 million in 2012 contracted work, which pushed into 2013, the contracted work for 2013 now totals $3.9 million.
CEMATRIX is an Alberta corporation with its head offices in Calgary, Alberta. The Corporation, through its wholly owned subsidiary, is a manufacturer and supplier of technologically advanced cellular concrete products with applications in a variety of markets, including oil and gas construction and infrastructure construction. Cellular concrete provides a cost and labour saving solution for various construction applications. Applications for cellular concrete include tunnel grouting; bridge abutment and retaining wall backfill; insulation of shallow utilities, roads and runways; insulation and/or structural foundations for tank bases and facilities; and as a floating base over weak and unstable or seismic prone soils, for roads and other types of infrastructure.
Forward-looking information: This news release contains certain information that is forward looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as "anticipate", expect", "would' or other similar words). Forward looking statements in this document are intended to provide CEMATRIX security holders and potential investors with information regarding CEMATRIX and its subsidiaries' future financial and operations plans and outlook. All forward looking statements reflect CEMATRIX's beliefs and assumptions based on information available at the time the statements were made. Readers are cautioned not to place undue reliance on this forward looking information. CEMATRIX undertakes no obligation to update or revise forward looking information except as required by law. For additional information on the assumptions made and the risks and uncertainties which may cause actual results to differ from the anticipated results, refer the CEMATRIX's Management Discussion and Analysis dated November 14, 2012 under CEMATRIX's profile on SEDAR at www.sedar.com and other reports filed by CEMATRIX with Canadian securities regulators.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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