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CEMATRIX Corporation Announces First Quarter Results Including Record First Quarter Infrastructure Sales

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CEMATRIX Corporation Announces First Quarter Results Including Record First Quarter Infrastructure Sales

CEMATRIX Corporation Announces First Quarter Results Including Record First Quarter Infrastructure Sales

CALGARY, ALBERTA--(Marketwired - May 4, 2017) - CEMATRIX Corporation (TSX:CVX) (the "Corporation" or the "Company" or "CEMATRIX") announces the release of its consolidated financial results for the three months ended March 31, 2017.

First Quarter Highlights

  • First quarter sales of $2,527,471 were down 20.3% compared to the same period in 2016 but infrastructure sales increased to $2.5 million as compared to $1 million in the same period of the previous year.


  • Total contracted work to date in 2017 is $7.9 million, all of which is currently scheduled for completion in the first half of the year.


  • The Company expanded its relationship with Lafarge/Holcim ("Lafarge") with the execution of additional five year agreements to promote the regional development of CEMATRIX cellular concrete and Ready Mix sales of Lafarge in regions where Lafarge has a physical presence and CEMATRIX does not.


First Quarter Results

Selected financial information for the three months ended March 31, 2017 and 2016 is as follows:

Three Months Ended March 31
2017 2016 Change
Revenue $ 2,527,471 $ 3,170,689 $ (643,218 )
Gross margin $ 534,685 $ 730,146 $ (195,461 )
Operating expenses (523,676 ) (597,533 ) 73,857
Operating income 11,009 132,613 (121,604 )
Non-cash stock based compensation (28,409 ) (24,079 ) (4,330 )
Finance costs (50,521 ) (72,396 ) 21,875
Other income 1,887 9,136 (7,249 )
Income (loss) before income taxes (66,034 ) 45,274 (111,308 )
Recovery (provision) of deferred taxes 13,639 (48,223 ) 61,862
Loss attributable to the common shareholders (52,395 ) (2,949 ) (49,446 )
Unrealized foreign exchange gain (loss) on translation of foreign subsidiary 536 (19,538 ) 20,074
Total comprehensive loss for period $ (51,859 ) $ (22,487 ) $ (29,372 )
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