Last C$0.30 CAD
Change Today 0.00 / 0.00%
Volume 5.0K
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As of 2:08 PM 07/29/14 All times are local (Market data is delayed by at least 15 minutes).

imaflex inc (IFX) Snapshot

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08/29/13 - C$0.50
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05/26/14 - C$0.24
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imaflex inc (IFX) Details

Imaflex Inc. develops, manufactures, and sells flexible packaging materials in Canada, the United States, and internationally. It offers agricultural films for fruit and vegetable growers; converter films, including bread, heavy duty, laminating grade, coex, master produce, compostable, medium density, and shrink films; and industrial film products comprising garbage, compostable, and Gaylord bags. It also provides metalized plastic films for use in the packaging of food products, such as ground coffee, potato chip bags, and chocolate bar wrappers, as well as for use in agriculture, insulation, and various other industries. The company is headquartered in Montreal, Canada.

imaflex inc (IFX) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: C$158.3K
Corporate Controller
Total Annual Compensation: C$130.0K
Vice-President of Operations and Director
Total Annual Compensation: --
Compensation as of Fiscal Year 2013.

imaflex inc (IFX) Key Developments

Imaflex Inc. Announces Unaudited Earnings Results for the First Quarter Ended March 31, 2014

Imaflex Inc. announced unaudited earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported sales of CAD 14,423,000 against CAD 12,797,000 a year ago. Profit before income taxes was CAD 33,000 against CAD 300,000 a year ago. Loss was CAD 57,000 or CAD 0.001 per share against profit of CAD 230,000 or CAD 0.005 per share a year ago. EBITDA was CAD 476,000 against CAD 693,000 a year ago. The variance in net income is mainly explained by a decrease in the gross margin as well as increases in selling and administrative expenses and income taxes. These were offset by an increase in the foreign exchange gain during the first quarter of 2014 compared to 2013.

Imaflex Inc., Annual General Meeting, Jun 18, 2014

Imaflex Inc., Annual General Meeting, Jun 18, 2014., at 14:00 US Eastern Standard Time. Location: the offices of Lavery, de Billy, L.L.P. Agenda: To receive the corporation's audited consolidated financial statements for the year ended December 31, 2013 and the related report of the auditors; to elect the corporation's directors; to appoint the auditors of the corporation for the ensuing year, and authorize the directors to fix their remuneration; and to transact such other business as may properly be brought before the Meeting or at any adjournment thereof.

Imaflex Inc. Announces Unaudited Earnings Results for the Fourth Quarter and Year Ended December 31, 2013

Imaflex Inc. announced unaudited earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, sales were CAD 13,866,000, loss before income taxes was CAD 49,000 and loss was CAD 184,000 or CAD 0.004 per basic and diluted share against sales of CAD 12,092,000, profit before income taxes of CAD 49,000 and profit of CAD 146,000 or CAD 0.003 per basic and diluted share for the same period a year ago. EBITDA was CAD 397,000 against CAD 477,000 a year ago. During the fourth quarter of 2013, sales increased by CAD 1,774,000, or 14.7%, compared to 2012. This increase is mainly explained by additional sales from operations in the United States, by increased sales of metalized mulch and packaging film and by a stronger US dollar. The increase in operating costs as well as selling and administrative expenses in order to plan for future growth did put pressure on earnings, however these measures were necessary in order to implement a strategy aimed at growing the business and developing new markets. For the full year, sales were CAD 56,052,000, profit before income taxes was CAD 676,000 and profit was CAD 207,000 or CAD 0.005 per basic and diluted share against sales of CAD 47,269,000, loss before income taxes of CAD 270,000 and loss of CAD 568,000 or CAD 0.013 per basic and diluted share for the same period a year ago. EBITDA was CAD 2,332,000 against CAD 1,462,000 a year ago. Sales in fiscal 2013 increased by CAD 8,783,000, or 18.6%, over fiscal 2012. This increase is mainly the result of management's efforts to grow the top line in order to gain new business and fill production capacity. The increase in the gross margin, coupled with a decrease in the interest expense and the foreign exchange gains all had very positive impacts on overall profitability, despite increases in production costs. These improvements were partially offset by the increase in selling and administrative expenses.


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