Winnipeg Free Press
Cymat narrows loss compared with year ago as sales grow to $1.1 million
Edited by : AL CIRCLE
1 min read
Aluminum foam maker Cymat Technologies Ltd. (TSX:CYM) reported in a loss in its latest quarter even as revenue shot higher with the completion of a key contract.
The company said Wednesday it lost $603,000 or a penny per share in the quarter ended Oct. 31 compared with a loss of $1.6 million or two cents per share a year ago.
Revenue grew to $1.1 million from $142,000.
Cymat said it completed delivery of its Alusion material to clad the exterior of a building in the Georgian capital of Tbilisi under a contract worth just over US$700,000.
Cymat manufactures aluminum foam for the architectural and automotive industries and the military.
Shares in the company, which reported its results after the close of markets, were up a penny at 4.5 cents on the Toronto Stock Exchange.
The company said Wednesday it lost $603,000 or a penny per share in the quarter ended Oct. 31 compared with a loss of $1.6 million or two cents per share a year ago.
Revenue grew to $1.1 million from $142,000.
Cymat said it completed delivery of its Alusion material to clad the exterior of a building in the Georgian capital of Tbilisi under a contract worth just over US$700,000.
Cymat manufactures aluminum foam for the architectural and automotive industries and the military.
Shares in the company, which reported its results after the close of markets, were up a penny at 4.5 cents on the Toronto Stock Exchange.
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