Brampton Brick Ltd. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014
May 8 14
Brampton Brick Ltd. reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported a net loss of CAD 7,855,000 or CAD 0.72 per class A subordinate voting share and class B multiple voting share compared to net loss of CAD 2,574,000 for CAD 0.24 per share, for the same period in 2013. Revenues were CAD 12,612,000 compared to CAD 12,889,000 for the same period in 2013. Increases in revenues of concrete masonry products were offset by decreases in revenues of shipments of other products in the Masonry Products business segment. The operating loss increased to CAD 5,777,000 from CAD 2,384,000 in the first quarter of 2013. Cash flow used for operating activities increased to CAD 6,746,000 compared to CAD 4,768,000 for the same quarter in 2013 due to the decline in operating results. Cash utilized for purchases of property, plant and equipment totaled CAD 9,517,000 in the first quarter of 2014, compared to CAD 774,000 for the corresponding period in 2013.
Brampton Brick Ltd. Announces Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2013; Provides Impairment Loss for the Fourth Quarter of 2013
Mar 18 14
Brampton Brick Ltd. announced consolidated earnings results for the fourth quarter and year ended December 31, 2013. For the fourth quarter ended December 31, 2013, the Company recorded a loss of CAD 1,108,000 or CAD 0.10 per Class A Subordinate Voting share and Class B Multiple Voting share, compared to a loss of CAD 1,708,000 or CAD 0.16 per Class A Subordinate Voting share and Class B Multiple Voting share, for the fourth quarter of 2012. For the fourth quarter of 2013, revenues decreased by CAD 1,253 to CAD 21,489,000 from CAD 22,742,000 for the same period in 2012. The decrease in Revenue was a result of lower masonry product shipments in the Canadian market. Operating loss was CAD 1,182,000 against CAD 1,078,000 a year ago. Loss before income taxes was CAD 1,814,000 against CAD 1,978,000 a year ago. Net loss attributable to Shareholders of Brampton Brick Limited was CAD 1,129,000 against CAD 1,709,000 a year ago.
Revenues were CAD 95,286,000 compared to CAD 97,061,000 in 2012, representing a slight decline of CAD 1,775,000, or 2%. Operating income decreased to CAD 6,215,000 compared to CAD 6,725,000 in 2012, largely due to the decrease in revenues, partially offset by improved operating margins. For the year ended December 31, 2013, cash flow provided by operating activities totaled CAD 9,695,000 compared to CAD 16,153,000 in 2012. Higher payables disbursements and higher amounts in other assets related to a deposit paid in December 2013 in the amount of CAD 1,890,000 pertaining to the Atlas Block asset acquisition contributed to the decrease in cash flows from operations. Cash utilized for purchases of property, plant and equipment totaled CAD 3,422,000 in 2013, compared to CAD 3,101,000 in 2012. Income before income taxes was CAD 3,479,000 against CAD 3,051,000 a year ago. Net income attributable to Shareholders of Brampton Brick Limited was CAD 2,549,000 against CAD 1,483,000 a year ago. Net income for the period was CAD 2,629,000 or CAD 0.23 per share against CAD 1,485,000 or CAD 0.14 per share a year ago.
The company reported impairment loss of CAD 707,000 on the Universal loan receivable was recognized in December 2013 compared to CAD 656,000 in the fourth quarter of 2012.
Brampton Brick Ltd., Annual General Meeting, May 22, 2014
Mar 5 14
Brampton Brick Ltd., Annual General Meeting, May 22, 2014., at 09:30 US Eastern Standard Time. Location: 225 Wanless Drive. Agenda: To receive the annual report, the consolidated financial statements for the year ended December 31, 2013 and the report of the auditors thereon; to appoint the auditors and to authorize the directors to fix their remuneration; to elect directors for the ensuing year; to transact such further and other business as may properly come before the meeting or any adjournment thereof.