Inventronics Announces 2008 Q2 Results



    CALGARY, Aug. 21 /CNW/ - Inventronics Limited (IVX:TSX Venture), a
designer and manufacturer of custom enclosures for the telecommunications,
electric transmission, cable and other industries in North America, today
announced its 2008 second quarter financial results.
    Inventronics reported sales of $5,468,000 for the second quarter of 2008,
compared to second quarter sales of $5,604,000 in 2007.
    The net earnings for the quarter ended June 30, 2008 were $205,000 or 4.7
cents per share, compared to $186,000 or 4.2 cents per share for the same
quarter in 2007.
    As previously announced the Corporation's largest customer, representing
78% of sales in the first half of 2008, has notified the Corporation that it
is not going to extend the contract with the Corporation as primary supplier
past its expiry on October 15, 2008 and that the Corporation wil become its
second supplier operating without a contract. In addition to the loss of
revenue expected with this significant reduction in sales, reorganization of
the operations is necessary and downsizing costs such as severance will be
material. Management has not yet fully assessed the consequences of the loss
of the contract and the potential reductions in sales volume but expects
aggregate corporate sales volumes to be reduced by approximately 40% to 60% in
future periods.

    About Inventronics

    Inventronics Limited designs and manufactures custom enclosures and other
products for an array of customers in the telecommunications, electronics,
electric utilities and computer services industries in North America. The
Corporation owns its ISO 9001-registered production facility in Brandon,
Manitoba and has head offices in Calgary, Alberta.
    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.
    Inventronics' 2008 first-quarter results will be filed with SEDAR at
www.sedar.com by August 29, 2008.

    
    Selected Financial Information:
    (in thousands, except per share amounts)

    Income Statement Highlights     Three Months Ended      Six Months Ended
                                    June 30,   June 30,   June 30,   June 30,
                                       2008       2007       2008       2007

    Sales                             5,468      5,604     11,023     10,735
    EBITDA                              438        420        836        910
    Net earnings                        205        186        377        442
    Basic earnings per share      4.7 cents  4.2 cents  8.6 cents 10.0 cents


       Balance Sheet Highlights          June 30, 2008     December 31, 2007

    Working capital                              1,039                   735
    Capital assets                               5,533                 5,718
    Long-term debt (excluding
     current portion)                            2,653                 2,940
    Shareholders' equity                         3,919                 3,513
    

    Disclaimer

    This news release contains forward looking information that represents
the Corporation's internal projections, expectations, estimates or beliefs
concerning, among other things, future operating results and various
components thereof or the Corporation's future economic performance. These
statements relate to future events or future performance. All statements other
than the statements of historical fact may be forward-looking statements. In
some cases, forward-looking statements can be identified by terminology such
as "may", "will", "should", "expects", "projects", "plans", "anticipates", and
similar expressions. The projections, estimates and beliefs contained in such
forward-looking statements are based on management's assumptions relating to
the production performance of Inventronics' assets, the cost and competition
throughout the telecommunications industry in 2008, and the continuation of
the current regulatory and tax regimes in the jurisdictions in which the
Corporation operates, and necessarily involve known and unknown risks and
uncertainties, including risks and assumptions relating to exchange rates,
costs of production, outlook for sales, and other factors that may cause
actual performance and financial results in future periods to differ
materially from any projections of future performance or results expressed or
implied by such forward-looking statements. Accordingly, readers are cautioned
that events or circumstances could cause results to differ materially from
those predicted. The Corporation does not undertake to update any
forward-looking information in this document whether as to new information,
future events or otherwise.





For further information:

For further information: Dan J. Stearne, President and CEO, (403)
265-4880, dstearne@inventronics.com

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Inventronics Limited

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