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cvtech group inc (CVTPF) Snapshot

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Day High
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Day Low
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52 Week High
10/22/13 - $1.13
52 Week Low
03/20/14 - $0.73
Market Cap
60.4M
Average Volume 10 Days
70.0
EPS TTM
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Shares Outstanding
71.5M
EX-Date
11/18/10
P/E TM
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cvtech group inc (CVTPF) Details

CVTech Group Inc., through its subsidiaries, is engaged in the construction and maintenance of electrical transmission and distribution lines, power houses, and substations for the utility and heavy industrial markets in Canada and the United States. It provides tree pruning and vegetation control services on rights-of-way for transmission and distribution lines; overhead and underground services, including new construction, maintenance, and upgrades, as well as emergency storm damage repair services for electric utility market; mechanical and electrical fabrication, installation, and maintenance services primarily to the power, refining, chemical, pharmaceutical, and steel industries; and solar panel installation services for commercial, industrial, utility, and residential environments. The company is headquartered in Drummondville, Canada.

cvtech group inc (CVTPF) Top Compensated Officers

Chief Financial Officer
Total Annual Compensation: C$246.0K
Executive Vice-President of U.S. Operations a...
Total Annual Compensation: C$243.5K
Principal Senior Advisor
Total Annual Compensation: C$448.0K
Vice President and General Manager of Thirau ...
Total Annual Compensation: C$219.7K
Vice-President and General Manager of Thirau ...
Total Annual Compensation: C$217.3K
Compensation as of Fiscal Year 2013.

cvtech group inc (CVTPF) Key Developments

CVTech Group Inc. Announces Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

CVTech Group Inc. announced earnings results for the second quarter and six months ended June 30, 2014. The company's revenues were CAD 77.9 million, up 40.9% from the second quarter of 2013. The increase was due mainly to growth in revenues from contracts for the construction, maintenance and repair of underground lines, from contracts related to mechanical work and from contracts associated with electrical energy projects for industrial, commercial and institutional customers. In addition, the conversion effect resulting from fluctuations in the value of the Canadian dollar increased the value of U.S.-dollar-denominated revenues for the quarter ended June 30, 2014 by CAD 3.2 million compared to the same period in 2013. However, revenues from contracts for the construction, maintenance and repair of electricity distribution lines were lower. Earnings before interest, taxes, depreciation and amortization (EBITDA) were CAD 1.8 million, or 2.3% of revenues, compared to negative EBITDA of CAD 16,000, or 0.0% of revenues, in the second quarter of 2013. The improvement, both in dollars and as a percentage of revenues, reflects growth in sales volume, offset in part by greater recourse to subcontracting in Ontario. EBITDA in the second quarter of 2013 had been affected by an unprofitable contract in the U.S. and by the start-up of projects in new market segments. For the second quarter of 2014, the Corporation recorded a net loss of CAD 691,000, or CAD 0.01 per basic and diluted share, compared to a net loss of CAD 1.8 million, or CAD 0.02 per basic and diluted share, in the second quarter of 2013. The company's revenues for the six months ended June 30, 2014 were CAD 149.1 million, up 33.5% from CAD 111.7 million in the six months ended June 30, 2013. The conversion effect increased the value of U.S.-dollar-denominated revenues for the six months ended June 30, 2014 by approximately CAD 7.0 million compared to the same period a year earlier. EBITDA for the first six months of 2014 was CAD 6.4 million, or 4.3% of revenues, up from CAD 2.3 million, or 2.0% of revenues, a year earlier. Net earnings were CAD 726,000, or CAD 0.01 per basic and diluted share, versus a net loss of CAD 1.8 million, or CAD 0.02 per basic and diluted share, in the same period a year earlier.

CVTech Group Inc. Approves Amendments to Articles of Corporation

CVTech Group Inc. at its annual and special meeting of shareholders held on July 23, 2014 approved a special resolution authorizing the board of directors of the corporation to file articles of amendment of the articles of the corporation in order to change the name of the Corporation to 'NAPEC Inc'.

CVTech Group Inc. Announces Management Changes, Effective from August 11, 2014

CVTech Group Inc. announced the appointment of Mr. Pierre L. Gauthier who will succeed to Mr. Andre Laramee as President and Chief Executive Officer. Mr. Gauthier will take office on August 11, 2014. Prior to this appointment, Mr. Gauthier has served as director and member of the Governance and Nominating Committee of the Corporation since December 2013. Mr. Gauthier currently holds the position of Chairman of the Board and Chief Executive Officer of Alstom Power &Transport Canada Inc. He is currently Chairman of the Board of the Centre de commercialization en innovation manufacturiere, a director of Alstom Grid Canada inc. and Alstom Sitca as well as a member of a number of Canadian and U.S. associations.

 

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