Savaria Reports Record Revenue for Q4 2012 and Declares Dividend of 8 Cents per Share
(firmenpresse) - LAVAL, QUEBEC -- (Marketwire) -- 03/28/13 -- Savaria Corporation (TSX: SIS), North America's leader in the accessibility industry, today disclosed its results for the fourth quarter ended December 31, 2012 and for fiscal 2012.
Highlights
A Word from the President
"2012 was a challenging year, given the relocation of our Brampton operations in a newly-acquired building, and at the same time a very successful year financially, especially our fourth quarter. We recorded the highest quarterly revenue in our history in this quarter. In addition, our EBITDA is $ 1.8 million, representing 10% of revenue, and meets corporate objectives," declared Marcel Bourassa, President and Chief Executive Officer of Savaria.
"During the last year, several events have contributed to the Corporation's financial success, which enables us to look to 2013 with excitement. It started with the first sales on the North American market of the Omega inclined platform lift, for curved staircases, and the Delta, for straight staircases; the relocation of Brampton's operations in July, which will result in annual savings of close to $1 million; the first major order won by our Chinese subsidiary, for the delivery of 27 Omega platform lifts to equip the train stations on Hainan Island; and finally, our main North American competitor ceased operations last November, which will potentially enable us to increase our market share. These events will have a positive impact for years to come.
"During the third quarter of 2013, we plan to introduce a new product: a stairlift for curved staircases. This product has currently reached its final design phase and will grow our accessibility products offering.
"Our Adapted Vehicles segment reported a record-high net income in 2012, and we expect 2013 will reflect the past year.
"Ultimately, our strong balance sheet will allow us to further product development and enable us to develop new markets," concluded Mr. Bourassa.
Operating Results (Comparative Analysis with Fourth Quarter and Fiscal 2011)
Dividend
The Corporation's Board of Directors has declared a dividend of 8 cents ($0.08) per common share, payable on April 24, 2013 to shareholders of record of the Corporation at the close of business on April 9, 2013. This is an eligible dividend within the meaning of the Income Tax Act.
Savaria Corporation (savaria.com) is North America's leader in the accessibility industry focused on meeting the needs of people with mobility challenges. Savaria designs, manufactures and distributes primarily elevators for home and commercial use, as well as stairlifts and vertical and inclined platform lifts. In addition, it converts and adapts wheelchair accessible automotive vehicles and offers scooters and motorized wheelchairs. The diversity of its product line, one of the world's most comprehensive, enables the Corporation to stand out by proposing an integrated and customized solution for its customers' mobility needs. Its operations in China have substantially grown since 2006 and the collaboration with Savaria's other Canadian facilities increases its competitive edge in the market place. The Corporation records slightly over 50% of its revenue outside Canada, primarily in the United States. It has a sales network of some 600 retailers in North America and employs some 360 people at its head office in Laval and at its plants in Montreal (Quebec), Brampton and London (Ontario), Calgary (Alberta) and Huizhou (China).
Compliance with International Financial Reporting Standards ("IFRS")
The information appearing in this press release has been prepared in accordance with IFRS. However, the Corporation uses EBITDA for analysis purposes to measure its financial performance. This measure has no standardized definition in accordance with IFRS and is therefore regarded as a non-IFRS measure. This measure may therefore not be comparable to similar measures reported by other companies. Reconciliation between net income for the period and EBITDA is provided in the Financial Highlights section below.
Cautionary Notice Regarding Forward-Looking Statements
Certain information in this press release may constitute "forward-looking statements" regarding Savaria, including, without being limited thereto, understanding of the elements that might affect the Corporation's future, relating to its financial or operating performance, the costs and schedule of future acquisitions, supplementary capital expenditure requirements and legislative matters. Most frequently, but not invariably, forward-looking statements are identified by the use of such terms as "plan", "expect", "should", "could", "budget", "expected", "estimated" "forecast", "intend", "anticipate", "believe", variants thereof (including negative variants) or statements that certain events, results or shares "could", "should" or "will" occur or be achieved. Such statements involve known and unknown risks, uncertainties and other factors liable to cause Savaria's actual results, performance or achievements to differ materially from those set forth in or underlying the forward-looking statements. Such factors notably include general, economic, competitive, political and social uncertainties. Although Savaria has attempted to identify the key elements liable to cause actual measures, events or results to differ from those described in the forward-looking statements, other factors could have an impact on the reality and produce unexpected results. The forward-looking statements contained herein are valid at the date of this press release. As there can be no assurance that these forward-looking statements will prove accurate, actual future results and events could differ materially from those anticipated therein. Accordingly, readers are strongly advised not to unduly rely on these forward-looking statements.
Financial highlights appear on the next page.
Complete financial statements and the management's report for quarter ended December 31, 2012 and fiscal 2012 will be available shortly on Savaria's website and on SEDAR ().
Financial Highlights
Although EBITDA is not recognized according to IFRS, it is used by management, investors and analysts to assess the Corporation's financial and operating performance.
Reconciliation of EBITDA with Net Income
Contacts:
Helene Bernier, CPA, CA
Vice-President, Finance
1-800-931-5655, ext. 248
Marcel Bourassa
President and Chief Executive Officer
1-800-661-5112
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Datum: 28.03.2013 - 18:47 Uhr
Sprache: Deutsch
News-ID 244276
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LAVAL, QUEBEC
Kategorie:
Medical Devices
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