MONTREAL, Sept. 11 /CNW Telbec/ - Dectron Internationale, Inc.
(TSX: DTL), a leader in the heating, ventilation and air conditioning, indoor
air security and water generation markets, announced today its financial
results for the second quarter ended July 31, 2007.
Revenues for the second quarter ended July 31, 2007 were $17.4 million, a
$1.5 million (9.5%) increase over the prior year's revenues for the same
period of $15.9 million. Revenues for the six months ended July 31, 2007 were
$34.8 million, a $4.1 million (13.4%) increase over the prior year's revenues
for the same period of $30.7 million. The growth is seen across all divisions
but is mainly attributed to continued success in sales of Dectron pool
Gross profit in the second quarter increased by $130,000 to $4.5 million
from $4.4 million in the same quarter last year. For the six-month period,
gross profit increased by $1.0 million to $9.2 million. As a percentage of
revenues, gross profit margin was at 25.9% (26.4% for the six months) a
decrease from the prior year's gross profit margin of 27.5% (26.7% for the six
months). The gross profit margin was adversely affected by aggressive pricing
strategies in the Ecosaire/ Circul-aire markets as well as the mix due to
higher sales volume of sourced products at lower margins.
Selling expenses for the quarter decreased by $339,000 to $1.7 million
(decreased by $204,000 to $3.6 million for the six months ended July 31, 2007)
compared to $2.0 million for the same quarter last year. General and
administrative expenses held steady at $1.2 million for the quarter ended
July 31, 2007. For the six month period general and administrative increased
$193,000 to $2.5 million. As a percentage of revenues, selling, general and
administrative expenses actually decreased in the quarter to 16.5% from 20.2%
(decreased to 17.5% from 19.8% for the six month period).
Depreciation and amortization expenses decreased to $344,000 in the
quarter ending July 31, 2007 compared to $414,000 in 2006 due to lower
amortization of deferred charges. Financial expenses also decreased in the
slightly by $24,000 to $308,000 ($657,000 for the six months) from $332,000
($688,000 for the six months) due to lower levels of debt.
Net earnings for the quarter ended July 31, 2007 increased to $977,000
(or $0.22 per share) compared to net earnings of $419,000 (or $0.09 per share)
in the corresponding quarter last year. Net earnings in the six months period
ending July 31, 2007 increased to 1.2 million (or $0.39 per share) compared to
net earnings of $372,000 (or $0.12 per share) in the corresponding period last
EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization)
is a non-GAAP measure used by many in the industry as a measurement of
operational performance. For the quarter ended July 31, 2007 EBITDA increased
40.0% over the same quarter last year to $1.6 million from $1.2 million last
year. For the six month period ended July 31, 2007 EBITDA increased 48.0% over
the previous year to $3.1 million from $2.1 million last year.
This release contains forward-looking statements. These statements
involve a number of risks and uncertainties and actual results could differ
materially from those projected. These forward-looking statements regarding
future events and the future results of Dectron Internationale Inc. are based
on current expectations, estimates, forecasts, and projections about the
markets in which we operate and the beliefs and assumptions of our management.
Words such as "expects," "anticipates," "targets," "goals," "projects,"
"intends," "plans," "believes," "seeks," "estimates," variations of such
words, and similar expressions are intended to identify such forward-looking
statements. In addition, any statements that refer to projections of our
future financial performance, our anticipated growth and trends, and other
characterizations of future events or circumstances, are forward-looking
statements. Readers are cautioned that these forward-looking statements are
only predictions and are subject to risks, uncertainties, and assumptions.
Therefore, actual results may differ materially and adversely from those
expressed in any forward-looking statements. Readers are referred to the
cautionary statements and important factors discussed in our Annual
Information Form for the year ended January 31, 2007 for further information.
We undertake no obligation to revise or update publicly any forward-looking
statements for any reason, except as required by law.
Dectron Internationale, Inc. is a global provider of custom and
semi-custom IAQ (indoor air quality) and HVAC-R (heating, ventilation and air
conditioning and refrigeration) products and services to the building systems,
food processing, medical, petrochemical, and various industrial and commercial
markets. Established in Montreal, the Company has 460 employees in its
manufacturing facilities. Its shares are listed on the TSX (DTL).
For further information:
For further information: Dectron Internationale Inc.: Glenn La Rusic,
Chief Financial Officer, firstname.lastname@example.org, www.dectron.com; Renmark
Financial Communications: Tina Cameron, email@example.com; Henri
Perron, firstname.lastname@example.org; (514) 939-3989, Fax: (514) 939-3717,