MONTREAL, March 9, 2016 /CNW Telbec/ - Imaflex Inc. (TSXV: IFX) anticipates top-line revenue of approximately $69-million for the year ended December 31, 2015, as compared to $60-million for the year ended December 31, 2014, representing more than a 10% increase. The company anticipates releasing its full audited fiscal 2015 financial results in April 2016.
"We are pleased with the pace of growth from our legacy plastic business," commented Joe Abbandonato, President and Chief Executive Officer of Imaflex. "With our U.S. operations becoming profitable in the second half of 2015, we now have all our business segments positively contributing to our bottom line. This ongoing trend should positively impact our profitability for the foreseeable future."
Mr. Abbandonato added, "I am also pleased with the progress we made in 2015 with our proprietary agricultural film products, ADVASEAL and SHINE N' RIPE XL. We have just completed a successful commercial trial for ADVASEAL with top growers in the U.S. As expected, the growers were very pleased with the convenience and efficacy of the product. We continue to expect growers to take a measured approach towards the adoption of both ADVASEAL and SHINE N' RIPE XL, as they acquaint themselves with these highly differentiated products."
Imaflex is also pleased to announce its corporate goals and objectives for 2016:
- Sustaining revenue growth, with 2016 revenue projected to increase at a similar pace as in 2015
- Improving profitability in 2016 compared to 2015
- Increasing awareness and exposure amongst growers for ADVASEAL and SHINE N' RIPE XL
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.
Cautionary Statement on Forward Looking Information
Certain information included in this press release constitutes "forward-looking" statements within the meaning of Canadian securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the management of the Corporation, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies. The Corporation cautions the reader that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of Imaflex to be materially different from the Corporation's estimated future results, performance or achievements expressed or implied by those forward-looking statements and that the forward-looking statements are not guarantees of future performance. These statements are also based on certain factors and assumptions. For more details on these estimates, risks, assumptions and factors, see the Corporation's most recent Management Discussion and Analysis filed on SEDAR. The Corporation disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise, except as expressly required by law. Readers are cautioned not to put undue reliance on these forward-looking statements.
SOURCE Imaflex Inc.
For further information: Imaflex Inc., Joseph Abbandonato, President and C.E.O, Giancarlo Santella, CPA, CA - Corporate Controller, Tel: (514) 935 - 5710, Fax: (514) 935 - 0264, e-mail: email@example.com, Website: www.imaflex.com