MONTREAL, Jan. 8 /CNW Telbec/ - 5N Plus Inc. (TSX: VNP) today announced
financial results for the second quarter of fiscal 2008 ended November 30,
2007. Net earnings for the second quarter of 2008 reached a record level of
$1,219,548 (4 cents per share), which represents a 40.6% increase over net
earnings of $867,255 (3 cents per share) for the second quarter of the
previous fiscal year. Sales for the quarter also reached a record level of
$6,795,743, up by 39.0% compared with sales of $4,889,938 for the second
quarter of the previous fiscal year. EBITDA(1) increased by 49.2% for the
second quarter of fiscal 2008 to a record level of $2,318,111 up from
$1,553,343 during the second quarter of the previous fiscal year.
For the six month period ended November 30, 2007, net earnings increased
by 49.3% to $2,318,804 (8 cents per share) and sales by 34.7% to $13,190,216.
This compares with earnings of $1,553,581 (5 cents per share) and sales of
$9,793,091 for the same period of the previous fiscal year. EBITDA(1) also
increased by a similar amount, 49.7%, up from $2,946,905 during the six month
period ended November 30, 2006, to $4,411,869 during the six month period
ended November 30, 2007.
"We are very pleased to report our second quarter results to our
shareholders, our employees and other stakeholders as we take on the
challenges of a publicly traded company and the associated opportunities"
commented Mr. Jacques L'Ecuyer, President and Chief Executive Officer. He
added, "These results reflect our increasing penetration of the solar cell
market where we expect growing demand for our products. We are making
significant investments to address this forecasted growth in demand, which
include our new Eisenhuttenstadt plant in Germany and additions to our
Montreal facility aimed at increasing capacity and improving efficiency. Our
recent successful initial public offering, which yielded net proceeds of
approximately $31,500,000, will enable us to pursue our investment program as
Mr. L'Ecuyer concluded, "We are also pleased to welcome to our board of
directors two new independent members, namely Mr. Jean-Marie Bourassa, CA
(Managing Partner of Bourassa Boyer Inc.), who will chair our audit committee,
and Mr. Pierre Shoiry (Chief Executive Officer of Genivar (TSX:GNV-U)). Both
will bring valuable experience and knowledge that will strengthen our largely
independent board of directors chaired by Mr. Dennis Wood."
The company will host a conference call at 10:00 AM Eastern Time on
Wednesday, January 9, 2008 with financial analysts to discuss the second
quarter financial results. All interested parties are invited to participate
to the live broadcast on the company's Web site at www.5nplus.com. A replay of
the webcast and a recording of the Q&A will be available until January 23,
About 5N Plus Inc.
5N Plus draws its name from the purity of its products, 99.999% (five
nines or 5N) and more. 5N Plus, which has its head office in Montreal, Quebec,
develops and produces high-purity metals and compounds for electronic
applications and provides its customers with recycling solutions. The Company
is an integrated producer with both primary and secondary refining
capabilities. 5N Plus focuses on specialty metals such as tellurium, cadmium
and selenium and on related compounds such as cadmium telluride and cadmium
sulphide. The Company's products are critical precursors in a number of
electronic applications, including the rapidly-expanding solar (thin-film
photovoltaics) market, for which 5N Plus is a major supplier of cadmium
telluride, and the radiation detector market.
Additional information about 5N Plus is available on its Web site at
(1) Earnings before interest, tax and depreciation ("EBITDA") are not
defined by Canadian generally accepted accounting principles and cannot
be formally presented in financial statements. The definition of EBITDA
does not take into account the start-up cost of our new plant in Germany.
The definition of EBITDA used by the Company may differ from that used by
other companies. Please see management's discussion and analysis for
For further information:
For further information: Jacques L'Ecuyer, President and Chief Executive
Officer, 5N Plus Inc., (514) 856-0644, Jacques.Lecuyer@5nplus.com