MONTREAL, April 24 /CNW Telbec/ - IMS Experts-Conseils Inc. ("IMS")
(TSX-V: IMS), a Canadian multidisciplinary engineering consulting firm, today
announced its financial results for the year ended August 31, 2006, and its
results for the first quarter ended November 30, 2006, at its first annual
general meeting following its initial public offering.
A year of transition: from a private to a public company
Throughout 2006, the company's executives did their utmost to establish a
solid basis on which to leverage the company's growth. In line with its growth
objective through strategic acquisitions, in March 2006, the company proceeded
with the acquisition of Pasquin St-Jean et Associés, a transaction financed
through a public placement of $3 million completed September 28, 2006.
This highlight of the past year had a significant impact on results. On
one hand, the company's sales increased considerably, by 35% for the year
ended August 31, 2006, the year's sales of $6.3 million comparing with
$4.7 million recorded in the previous year. Sales for the first quarter of the
current year grew by 62%, from $1.3 million in the same period last year to
$2.2 million this year. On the other hand, a substantial increase in selling
and administrative expenses has resulted in a foreseeable decrease in net
earnings: a loss of $300,044 for the year ended August 31, 2006, compared to
net earnings of $108,967 in the previous year. And for the first quarter ended
November 30, 2006, again there is a loss of $166,024 compared to net earnings
of $52,536 for the same period in the year 2005.
"These results are owing to the decisions reached to ensure our growth
through acquisitions and they reflect our particular circumstances related to
the company's development, internal restructuring and the expenses and efforts
exerted to establish the newly formed public company. However, the business
strategy that has been implemented should result in favorable outcomes," said
Mr. André Tousignant, the company's President and CEO. "We're confident, given
that the combined action of the increase in sales observed over the past few
months, an enhanced productivity by our staff and the end of non-recurrent
integration costs leads us to believe that our future business prospects are
most encouraging," added Mr. Tousignant.
During the period, the company spent a lot of effort into putting in
place a team of versatile and competent managers and a diversified Board of
Directors to support management in its efforts.
A promising future
Mr. Tousignant took the opportunity to inform attendants about the key
objectives set by management for the current fiscal year: a gross margin
increase in the 10 to 15% range, sales growth of 30 to 40%, a return on common
equity of at least 7.5% and adjusting the company's financial structure in
line with industry standards. "These objectives may seem ambitious, but we are
convinced that the time and energy exerted during the past year will bear
fruit," mentioned Mr. Tousignant.
Leveraging its assets
Providing its clients custom services and relying on a specialized
expertise in business sectors with a strong growth potential, for instance in
industry, energy, municipal engineering, environmental technologies,
metallurgy and magnesium, IMS Experts-Conseils intends to pursue its business
development plan focused on niche markets. "The expertise acquired here in
Quebec as well as abroad for companies such as Norsk Hydro, Alcan, the
Danville magnesium Magnola plant and the AMC plant in Australia can now be
exported worldwide, particularly in emerging countries in Asia and in the
Middle-East which have a pressing need for this type of know-how," concluded
Mr. Tousignant. This competitive asset will enable the company to position
itself advantageously both in Quebec, in the rest of Canada, in North America
and in Europe.
About IMS Experts-Conseils Inc.
IMS is a Canadian firm offering the full range of engineering consulting
services, notably in the building and related technologies sector as well as
in industrial facilities (metallurgy, pulp and paper), energy, municipal
engineering and water management. Since it was founded in 1993, IMS has
established a relation of trust particularly with its repeat clients by
providing them first-rate custom services. IMS relies on a team of nearly 100
highly specialized professionals and technicians.
Since 1997, considerable marketing efforts abroad have increased IMS's
customer base. Its expertise in light metal production was keenly appreciated
in major fixed assets projects such as the Norsk Hydro plant expansion in
Bécancour, the construction of the magnesium Magnola plant in Danville,
planning of the world's largest magnesium production facilities, AMC, in
Queensland, Australia and, just recently, in an important waterworks project
for the city of Monterrey in Mexico.
In 2006, IMS proceeded with the acquisition of Pasquin St-Jean et
Associés, an engineering consulting firm specializing in structure for over
25 years and recognized for its expertise in earth and building supports,
concrete and steel framing, structures integrating post-stressing as well as
bridge and viaduct frames. Among the firm's most noteworthy accomplishments
are the Marathon/IBM Tower in Montreal, the Ecole Polytechnique's Bombardier
and Lassonde pavilions, the Montreal and Hull Casinos, the principal place of
business of the Caisse de dépôt et placement du Québec, and the Montreal Eaton
During the Grands Prix du génie-conseil québécois 2007 award ceremony,
IMS's subsidiary, Pasquin St-Jean et Associés, received along with its
partner, Nicolet Chartrand Knoll, a Léonard, an award honouring Leonardo Da
Vinci, in the category Buildings - Structure, for its realization of the
Biological Sciences Pavilion of the Université du Québec à Montréal. The
construction of this pavilion involved, among other challenges, the
conservation of various old buildings part of our architectural heritage. The
Grands Prix du génie-conseil québécois is organized annually by the
Association des ingénieurs-conseils du Québec. Mr. Tousignant mentioned that
he was deeply honoured to receive this award in recognition of the excellent
work conducted by the staff of affiliate Pasquin St-Jean et Associés and he
congratulated the staff for their exceptional accomplishment.
This document may contain forward-looking statements that reflect
management's current expectations about future events. These forward-looking
statements depend on a certain number of factors and involve risks and
uncertainty. Actual results may differ from expected results. Management
assumes no obligation to update or revise these forward-looking statements in
light of new information or future events.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the information contained
in this release.
For further information:
For further information: Claude Beauregard, External Communications
Coordinator, IMS Experts-Conseils Inc., (514) 282-8100, ext. 239; Francine
Gauthier, Vice-President, Finance and CFO, IMS Experts-Conseils Inc., (514)
282-8100, ext. 227; Media relations: Lise Perras, (514) 767-0667,