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armtec infrastructure inc (AIIFF) Snapshot

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11/20/13 - $1.91
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10/23/14 - $0.35
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armtec infrastructure inc (AIIFF) Details

Armtec Infrastructure Inc. manufactures and markets infrastructure products and engineered construction solutions in Canada and internationally. The company operates in Drainage Solutions and Precast Concrete Solutions segments. It provides BEBO concrete arches, Bin-Wall bridge abutments, bridge girders, bridge planks, bridge-plates, multi-plates, precast concrete piles, structural plates, and truss bridges for bridge applications; and collector pans, corrugated steel pipes, HDPE pipes, HDPE tubings, multi-plates, Platon foundation drainage and flooring products, precast concrete septic tanks, reinforced concrete pipes, stormwater detention systems, stormwater treatment systems, ultra flo steel pipes, and water control gates. The company also offers concrete block retaining walls, lawn edging and curbs, parks and recreation benches, tables, planters, lamppost bases, foundations, parks and recreation products, patio slabs, paving stones precast concrete steps, and yard accessories; and Durisol precast noise barriers, ACRYLITE soundstop barrier sheets, and panels and systems, as well as precast acoustic facings, and whisper walls. In addition, it provides architectural and structural precast and pre-stressed concrete products; precast concrete panels and walls, and precast concrete structures and elements; road and highway safety products; and soil retention products. Further, the company offers tunnel liners and liner plates for transit applications; and underpass structures, drainage solutions, mine portals, and conveyor covers, as well as engineering and design, project management, on-site construction supervision, and stamped engineered drawings services. It serves national and regional public infrastructure, and private sector markets in agricultural drainage, commercial building, residential construction, and natural resources industries. The company was founded in 1908 and is headquartered in Guelph, Canada.

Founded in 1908

armtec infrastructure inc (AIIFF) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$468.8K
Chief Financial Officer
Total Annual Compensation: C$286.3K
President of Precast Concrete Solutions
Total Annual Compensation: C$300.0K
Vice President, Corporate Secretary and Chair...
Total Annual Compensation: C$193.8K
Vice President of Information Technology & Bu...
Total Annual Compensation: C$201.8K
Compensation as of Fiscal Year 2013.

armtec infrastructure inc (AIIFF) Key Developments

Armtec Infrastructure Inc. Announces Satisfaction of Conditions for Settlement of Proposed Class Actions

Armtec Infrastructure Inc. announced that all conditions related to the previously disclosed agreement to settle the proposed class action proceedings against the Corporation and others commenced by investors who purchased shares of the Corporation during the period of March 24, 2011 through June 8, 2011 have been satisfied. As previously disclosed, this settlement provides for a payment in the amount of approximately CAD 12.9 million, inclusive of all taxes, fees, interest and costs, which amount will be paid by Armtec's insurers and, accordingly, will not impact Armtec's cash resources.

Armtec Infrastructure Inc. Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Ebitda Guidance for the Third Quarter Ending September 30, 2014 and Full Year 2014

Armtec Infrastructure Inc. reported unaudited earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenue of CAD 117.753 million, a CAD 6.1 million or 5.0% decrease over CAD 123.897 million for the same period in 2013. Revenue in Drainage Solutions was CAD 42.3 million, down 5.8% from the same period last year. Revenue in Precast Concrete Solutions was CAD 75.4 million, or 4.5% below 2013 levels. Earnings from operations for the second quarter of 2014 were CAD 9.093 million, compared to CAD 12.046 million in the same period of 2013. Performance in both of the business units was impacted by lower revenue, unfavorable product mix and, in Drainage, increased raw material input costs and competition that compressed margins. Net earnings attributable to owners of the company were CAD 0.953 million or CAD 0.04 per basic and diluted share against CAD 3.228 million or CAD 0.13 per basic and diluted share a year ago. Earnings before interest, taxes, depreciation and amortization (EBITDA) for the second quarter of 2014 were CAD 12.004 million compared to CAD 15.057 million in the year prior. For the year-to-date, the company reported revenue of CAD 187.312 million, a CAD 15.5 million or 7.7% decrease over CAD 202.833 million for the first six months of 2013. Drainage revenue was CAD 58.2 million, a decrease of 7.8% compared to the same period in 2013. Precast revenue of CAD 129.1 million represents a decrease of 7.6% over 2013 levels. Year to date, the loss from operations was CAD 1.430 million, compared to earnings of CAD 9.120 million in the same period of 2013. Net loss attributable to owners of the company was CAD 12.613 million or CAD 0.52 per basic and diluted share against CAD 4.501 million or CAD 0.19 per basic and diluted share a year ago. In the first half of 2014, EBITDA was CAD 4.446 million, compared to CAD 15.122 million in 2013. The company provided EBITDA guidance for the third quarter ending September 30, 2014 and full year 2014. For the quarter, the company’s EBITDA is expected to range from CAD 16 to CAD 18 million for the three months ending September 30, 2014. The company remains focused on executing its performance improvement plans to improve EBITDA in the second half of the year. For the year, the company’s EBITDA is expected to range from CAD 30 to CAD 34 million. The timing of engineered precast projects in the Prairies and Soundwall markets combined with the degree of success of recently announced price increases in the Drainage BU are projected as the main variables influencing second half profitability.

Armtec Infrastructure Inc to Report Q2, 2014 Results on Aug 08, 2014

Armtec Infrastructure Inc announced that they will report Q2, 2014 results at 9:30 AM, US Eastern Standard Time on Aug 08, 2014


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